Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
257.21M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.64%.
Starting with 257.21M and growing at 21.64%
for 5 years, we estimate Free Cash Flow will be
684.97M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 54.77M.
We will project this out 5 year(s) with a growth rate
of -3.1%.
Estimated Diluted Shares Outstanding: 46.79M.
Step 3: Project Future Stock Price
Using a price ratio of 8.97, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(684.97M ÷ 46.79M) × 8.97 =
$131
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.2.
Projected over 5 years with a growth rate of
28.19%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.163146370610104.
Step 5: Discount the Projected Stock Price
Projected stock price: $131.
Including dividends, total future value: $142.16.
Discounted at 10% per
year over 5 years → Fair Value:
$88.
