Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
613.17M
as of Jun 15, 2025.
We will project this out 5 years with a yearly growth
rate of
4.47%.
Starting with 613.17M and growing at 4.47%
for 5 years, we estimate Free Cash Flow will be
763.03M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.95M.
We will project this out 5 year(s) with a growth rate
of -3.63%.
Estimated Diluted Shares Outstanding: 28.22M.
Step 3: Project Future Stock Price
Using a price ratio of 29.67, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(763.03M ÷ 28.22M) × 29.67 =
$802
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.73.
Projected over 5 years with a growth rate of
10.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$43.523755440144434.
Step 5: Discount the Projected Stock Price
Projected stock price: $802.
Including dividends, total future value: $845.52.
Discounted at 10% per
year over 5 years → Fair Value:
$525.
