Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
453.91M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.38%.
Starting with 453.91M and growing at 21.38%
for 5 years, we estimate Free Cash Flow will be
1.2B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 53.33M.
We will project this out 5 year(s) with a growth rate
of 5.44%.
Estimated Diluted Shares Outstanding: 69.51M.
Step 3: Project Future Stock Price
Using a price ratio of 26.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.2B ÷ 69.51M) × 26.98 =
$464
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.15.
Projected over 5 years with a growth rate of
7.15%, dividends add to total shareholder return.
Expected dividends in 5 years:
$42.48704088028336.
Step 5: Discount the Projected Stock Price
Projected stock price: $464.
Including dividends, total future value: $506.49.
Discounted at 10% per
year over 5 years → Fair Value:
$314.
