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 377.7M.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 377.89M.
Step 3: Project Future Stock Price
Using a price ratio of 50.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.4B ÷ 377.89M) × 50.5 =
$186
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.48.
Projected over 5 years with a growth rate of
-3.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.2160135086361072.
Step 5: Discount the Projected Stock Price
Projected stock price: $186.
Including dividends, total future value: $188.22.
Discounted at 10% per
year over 5 years → Fair Value:
$116.
