Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
398.98M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.75%.
Starting with 398.98M and growing at 6.75%
for 5 years, we estimate Free Cash Flow will be
553.08M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 130.78M.
We will project this out 5 year(s) with a growth rate
of 0.1%.
Estimated Diluted Shares Outstanding: 131.44M.
Step 3: Project Future Stock Price
Using a price ratio of 69.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(553.08M ÷ 131.44M) × 69.36 =
$291
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.05.
Projected over 5 years with a growth rate of
-4.67%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.658362552932457.
Step 5: Discount the Projected Stock Price
Projected stock price: $291.
Including dividends, total future value: $295.66.
Discounted at 10% per
year over 5 years → Fair Value:
$183.
