Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
600.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.76%.
Starting with 600.7M and growing at 13.76%
for 5 years, we estimate Free Cash Flow will be
1.14B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 12.94M.
We will project this out 5 year(s) with a growth rate
of -5.84%.
Estimated Diluted Shares Outstanding: 9.58M.
Step 3: Project Future Stock Price
Using a price ratio of 43.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.14B ÷ 9.58M) × 43.15 =
$5156
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.44.
Projected over 5 years with a growth rate of
20.11%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.288912726015088.
Step 5: Discount the Projected Stock Price
Projected stock price: $5156.
Including dividends, total future value: $5175.29.
Discounted at 10% per
year over 5 years → Fair Value:
$3213.
