Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
272.74M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.29%.
Starting with 272.74M and growing at 20.29%
for 5 years, we estimate Free Cash Flow will be
686.91M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 44.36M.
We will project this out 5 year(s) with a growth rate
of 0.8%.
Estimated Diluted Shares Outstanding: 46.17M.
Step 3: Project Future Stock Price
Using a price ratio of 14.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(686.91M ÷ 46.17M) × 14.8 =
$220
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.94.
Projected over 5 years with a growth rate of
1.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.139919803429201.
Step 5: Discount the Projected Stock Price
Projected stock price: $220.
Including dividends, total future value: $230.14.
Discounted at 10% per
year over 5 years → Fair Value:
$142.
