Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
507.9M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.46%.
Starting with 507.9M and growing at 0.46%
for 5 years, we estimate Free Cash Flow will be
519.69M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.62B.
We will project this out 5 year(s) with a growth rate
of -2.85%.
Estimated Diluted Shares Outstanding: 1.4B.
Step 3: Project Future Stock Price
Using a price ratio of 15.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(519.69M ÷ 1.4B) × 15.96 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.83.
Projected over 5 years with a growth rate of
6.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.904490759016832.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $9.9.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
