Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
930.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.31%.
Starting with 930.6M and growing at 4.31%
for 5 years, we estimate Free Cash Flow will be
1.15B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 243.61M.
We will project this out 5 year(s) with a growth rate
of -0.42%.
Estimated Diluted Shares Outstanding: 238.54M.
Step 3: Project Future Stock Price
Using a price ratio of 27.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.15B ÷ 238.54M) × 27.53 =
$132
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
-1.61%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.9617016617268375.
Step 5: Discount the Projected Stock Price
Projected stock price: $132.
Including dividends, total future value: $138.96.
Discounted at 10% per
year over 5 years → Fair Value:
$86.
