Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
235M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 235M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
235M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 577.4M.
We will project this out 5 year(s) with a growth rate
of 1.26%.
Estimated Diluted Shares Outstanding: 614.71M.
Step 3: Project Future Stock Price
Using a price ratio of 48.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(235M ÷ 614.71M) × 48.22 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.19.
Projected over 5 years with a growth rate of
2.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.630223043325692.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $29.63.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
