Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
328.58M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 328.58M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
328.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 265.86M.
We will project this out 5 year(s) with a growth rate
of -1.97%.
Estimated Diluted Shares Outstanding: 240.68M.
Step 3: Project Future Stock Price
Using a price ratio of 25.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(328.58M ÷ 240.68M) × 25.64 =
$35
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.18.
Projected over 5 years with a growth rate of
-12.94%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.6364864558486512.
Step 5: Discount the Projected Stock Price
Projected stock price: $35.
Including dividends, total future value: $35.64.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
