Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
974.21M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-11.29%.
Starting with 974.21M and growing at -11.29%
for 5 years, we estimate Free Cash Flow will be
535.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 41.28M.
We will project this out 5 year(s) with a growth rate
of -0.23%.
Estimated Diluted Shares Outstanding: 40.8M.
Step 3: Project Future Stock Price
Using a price ratio of 8.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(535.2M ÷ 40.8M) × 8.86 =
$116
Step 4: Project Future Dividends Paid
Forward dividend per share: $8.05.
Projected over 5 years with a growth rate of
4.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$45.244467958503044.
Step 5: Discount the Projected Stock Price
Projected stock price: $116.
Including dividends, total future value: $161.24.
Discounted at 10% per
year over 5 years → Fair Value:
$100.
