Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
404.86M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.45%.
Starting with 404.86M and growing at -3.45%
for 5 years, we estimate Free Cash Flow will be
339.68M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 219.49M.
We will project this out 5 year(s) with a growth rate
of -2.25%.
Estimated Diluted Shares Outstanding: 195.88M.
Step 3: Project Future Stock Price
Using a price ratio of 23.76, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(339.68M ÷ 195.88M) × 23.76 =
$41
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
0.21%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.0157748149299097.
Step 5: Discount the Projected Stock Price
Projected stock price: $41.
Including dividends, total future value: $44.02.
Discounted at 10% per
year over 5 years → Fair Value:
$27.
