Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
897.35M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 897.35M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
897.35M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 63.61M.
We will project this out 5 year(s) with a growth rate
of -2.08%.
Estimated Diluted Shares Outstanding: 57.27M.
Step 3: Project Future Stock Price
Using a price ratio of 5.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(897.35M ÷ 57.27M) × 5.6 =
$87
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.83.
Projected over 5 years with a growth rate of
-3.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.924074241345357.
Step 5: Discount the Projected Stock Price
Projected stock price: $87.
Including dividends, total future value: $99.92.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
