Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
920M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-41.08%.
Starting with 920M and growing at -41.08%
for 5 years, we estimate Free Cash Flow will be
65.33M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 39.24M.
We will project this out 5 year(s) with a growth rate
of -0.99%.
Estimated Diluted Shares Outstanding: 37.34M.
Step 3: Project Future Stock Price
Using a price ratio of 23.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(65.33M ÷ 37.34M) × 23.64 =
$41
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.7.
Projected over 5 years with a growth rate of
-0.87%, dividends add to total shareholder return.
Expected dividends in 5 years:
$32.77612237690518.
Step 5: Discount the Projected Stock Price
Projected stock price: $41.
Including dividends, total future value: $73.78.
Discounted at 10% per
year over 5 years → Fair Value:
$45.
