Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
506.58M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 506.58M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
506.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 210.29M.
We will project this out 5 year(s) with a growth rate
of -1.05%.
Estimated Diluted Shares Outstanding: 199.48M.
Step 3: Project Future Stock Price
Using a price ratio of 10.2, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(506.58M ÷ 199.48M) × 10.2 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.44.
Projected over 5 years with a growth rate of
-4.22%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.4642713457932715.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $31.46.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
