Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
761M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.05%.
Starting with 761M and growing at -10.05%
for 5 years, we estimate Free Cash Flow will be
448.12M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 122.31M.
We will project this out 5 year(s) with a growth rate
of -0.54%.
Estimated Diluted Shares Outstanding: 119.04M.
Step 3: Project Future Stock Price
Using a price ratio of 25.72, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(448.12M ÷ 119.04M) × 25.72 =
$96
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.14.
Projected over 5 years with a growth rate of
2.54%, dividends add to total shareholder return.
Expected dividends in 5 years:
$32.686743740506515.
Step 5: Discount the Projected Stock Price
Projected stock price: $96.
Including dividends, total future value: $128.69.
Discounted at 10% per
year over 5 years → Fair Value:
$79.
