Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
679.04M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-8.66%.
Starting with 679.04M and growing at -8.66%
for 5 years, we estimate Free Cash Flow will be
431.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 118.09M.
We will project this out 5 year(s) with a growth rate
of -2.61%.
Estimated Diluted Shares Outstanding: 103.46M.
Step 3: Project Future Stock Price
Using a price ratio of 89.16, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(431.72M ÷ 103.46M) × 89.16 =
$372
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.1.
Projected over 5 years with a growth rate of
-1.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.800577987486317.
Step 5: Discount the Projected Stock Price
Projected stock price: $372.
Including dividends, total future value: $386.8.
Discounted at 10% per
year over 5 years → Fair Value:
$240.
