Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
632M
as of Sep 30, 2024.
We will project this out 5 years with a yearly growth
rate of
17.17%.
Starting with 632M and growing at 17.17%
for 5 years, we estimate Free Cash Flow will be
1.4B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 188.9M.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 189M.
Step 3: Project Future Stock Price
Using a price ratio of 51.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.4B ÷ 189M) × 51.82 =
$382
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.95.
Projected over 5 years with a growth rate of
-2.82%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.422174199655009.
Step 5: Discount the Projected Stock Price
Projected stock price: $382.
Including dividends, total future value: $386.42.
Discounted at 10% per
year over 5 years → Fair Value:
$239.
