Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
276.76M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.17%.
Starting with 276.76M and growing at 14.17%
for 5 years, we estimate Free Cash Flow will be
536.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 57.7M.
We will project this out 5 year(s) with a growth rate
of 0.79%.
Estimated Diluted Shares Outstanding: 60.02M.
Step 3: Project Future Stock Price
Using a price ratio of 25.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(536.86M ÷ 60.02M) × 25.75 =
$230
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.31.
Projected over 5 years with a growth rate of
-1.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.4913910859029584.
Step 5: Discount the Projected Stock Price
Projected stock price: $230.
Including dividends, total future value: $231.49.
Discounted at 10% per
year over 5 years → Fair Value:
$143.
