Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
290.77M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.43%.
Starting with 290.77M and growing at 8.43%
for 5 years, we estimate Free Cash Flow will be
435.81M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 142.92M.
We will project this out 5 year(s) with a growth rate
of 0.99%.
Estimated Diluted Shares Outstanding: 150.14M.
Step 3: Project Future Stock Price
Using a price ratio of 19.58, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(435.81M ÷ 150.14M) × 19.58 =
$56
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.74.
Projected over 5 years with a growth rate of
1.89%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.877310932191491.
Step 5: Discount the Projected Stock Price
Projected stock price: $56.
Including dividends, total future value: $59.88.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
