Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
414.32M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.82%.
Starting with 414.32M and growing at 20.82%
for 5 years, we estimate Free Cash Flow will be
1.07B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 106.85M.
We will project this out 5 year(s) with a growth rate
of 1.78%.
Estimated Diluted Shares Outstanding: 116.71M.
Step 3: Project Future Stock Price
Using a price ratio of 65.05, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.07B ÷ 116.71M) × 65.05 =
$594
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.21.
Projected over 5 years with a growth rate of
-1.05%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.37156308723863.
Step 5: Discount the Projected Stock Price
Projected stock price: $594.
Including dividends, total future value: $619.37.
Discounted at 10% per
year over 5 years → Fair Value:
$384.
