Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
153.01M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.08%.
Starting with 153.01M and growing at -0.08%
for 5 years, we estimate Free Cash Flow will be
152.4M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.77M.
We will project this out 5 year(s) with a growth rate
of -2.46%.
Estimated Diluted Shares Outstanding: 25.4M.
Step 3: Project Future Stock Price
Using a price ratio of 21.44, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(152.4M ÷ 25.4M) × 21.44 =
$128
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.26.
Projected over 5 years with a growth rate of
0.42%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.366358518284269.
Step 5: Discount the Projected Stock Price
Projected stock price: $128.
Including dividends, total future value: $134.37.
Discounted at 10% per
year over 5 years → Fair Value:
$83.
