Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
259.71M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.54%.
Starting with 259.71M and growing at 8.54%
for 5 years, we estimate Free Cash Flow will be
391.24M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 57.74M.
We will project this out 5 year(s) with a growth rate
of 2.57%.
Estimated Diluted Shares Outstanding: 65.55M.
Step 3: Project Future Stock Price
Using a price ratio of 9.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(391.24M ÷ 65.55M) × 9.3 =
$55
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.77.
Projected over 5 years with a growth rate of
0.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.97665214274759.
Step 5: Discount the Projected Stock Price
Projected stock price: $55.
Including dividends, total future value: $63.98.
Discounted at 10% per
year over 5 years → Fair Value:
$39.
