Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
439.2M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.28%.
Starting with 439.2M and growing at 9.28%
for 5 years, we estimate Free Cash Flow will be
684.49M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 100.72M.
We will project this out 5 year(s) with a growth rate
of 0.56%.
Estimated Diluted Shares Outstanding: 103.58M.
Step 3: Project Future Stock Price
Using a price ratio of 32.37, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(684.49M ÷ 103.58M) × 32.37 =
$213
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.87.
Projected over 5 years with a growth rate of
-4.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.8557385210985395.
Step 5: Discount the Projected Stock Price
Projected stock price: $213.
Including dividends, total future value: $216.86.
Discounted at 10% per
year over 5 years → Fair Value:
$134.
