Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
344.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.12%.
Starting with 344.5M and growing at 11.12%
for 5 years, we estimate Free Cash Flow will be
583.64M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 476.75M.
We will project this out 5 year(s) with a growth rate
of 0.83%.
Estimated Diluted Shares Outstanding: 496.86M.
Step 3: Project Future Stock Price
Using a price ratio of 15.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(583.64M ÷ 496.86M) × 15.31 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.08.
Projected over 5 years with a growth rate of
-18.80%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.23765670111076848.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $17.24.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
