Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
755.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.76%.
Starting with 755.4M and growing at 6.76%
for 5 years, we estimate Free Cash Flow will be
1.05B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 174.4M.
We will project this out 5 year(s) with a growth rate
of 0.04%.
Estimated Diluted Shares Outstanding: 174.75M.
Step 3: Project Future Stock Price
Using a price ratio of 16, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.05B ÷ 174.75M) × 16 =
$95
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.89.
Projected over 5 years with a growth rate of
5.12%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.041658109956635.
Step 5: Discount the Projected Stock Price
Projected stock price: $95.
Including dividends, total future value: $100.04.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
