Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
120.74M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
25.89%.
Starting with 120.74M and growing at 25.89%
for 5 years, we estimate Free Cash Flow will be
381.77M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 81.07M.
We will project this out 5 year(s) with a growth rate
of -15.29%.
Estimated Diluted Shares Outstanding: 35.36M.
Step 3: Project Future Stock Price
Using a price ratio of 15.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(381.77M ÷ 35.36M) × 15.15 =
$163
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.85.
Projected over 5 years with a growth rate of
-23.37%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.754871631057394.
Step 5: Discount the Projected Stock Price
Projected stock price: $163.
Including dividends, total future value: $167.75.
Discounted at 10% per
year over 5 years → Fair Value:
$104.
