Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
350.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.89%.
Starting with 350.81M and growing at 13.89%
for 5 years, we estimate Free Cash Flow will be
672.21M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 193.79M.
We will project this out 5 year(s) with a growth rate
of 1.69%.
Estimated Diluted Shares Outstanding: 210.73M.
Step 3: Project Future Stock Price
Using a price ratio of 47.43, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(672.21M ÷ 210.73M) × 47.43 =
$151
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.5.
Projected over 5 years with a growth rate of
2.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.273270490768555.
Step 5: Discount the Projected Stock Price
Projected stock price: $151.
Including dividends, total future value: $164.27.
Discounted at 10% per
year over 5 years → Fair Value:
$101.
