Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
604.52M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.06%.
Starting with 604.52M and growing at 10.06%
for 5 years, we estimate Free Cash Flow will be
976.24M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 5.63M.
We will project this out 5 year(s) with a growth rate
of -0.41%.
Estimated Diluted Shares Outstanding: 5.51M.
Step 3: Project Future Stock Price
Using a price ratio of 18.43, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(976.24M ÷ 5.51M) × 18.43 =
$3262
Step 4: Project Future Dividends Paid
Forward dividend per share: $14.75.
Projected over 5 years with a growth rate of
-20.86%, dividends add to total shareholder return.
Expected dividends in 5 years:
$41.09151367038253.
Step 5: Discount the Projected Stock Price
Projected stock price: $3262.
Including dividends, total future value: $3303.09.
Discounted at 10% per
year over 5 years → Fair Value:
$2050.
