Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
785.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.25%.
Starting with 785.3M and growing at 10.25%
for 5 years, we estimate Free Cash Flow will be
1.28B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 53.14M.
We will project this out 5 year(s) with a growth rate
of -0.26%.
Estimated Diluted Shares Outstanding: 52.45M.
Step 3: Project Future Stock Price
Using a price ratio of 25.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.28B ÷ 52.45M) × 25.86 =
$630
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.5.
Projected over 5 years with a growth rate of
1.31%, dividends add to total shareholder return.
Expected dividends in 5 years:
$33.57485527930768.
Step 5: Discount the Projected Stock Price
Projected stock price: $630.
Including dividends, total future value: $663.57.
Discounted at 10% per
year over 5 years → Fair Value:
$412.
