Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
939.13M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.45%.
Starting with 939.13M and growing at 10.45%
for 5 years, we estimate Free Cash Flow will be
1.54B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 235.82M.
We will project this out 5 year(s) with a growth rate
of -0.14%.
Estimated Diluted Shares Outstanding: 234.18M.
Step 3: Project Future Stock Price
Using a price ratio of 9.91, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.54B ÷ 234.18M) × 9.91 =
$65
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.02.
Projected over 5 years with a growth rate of
-6.25%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.595072904547221.
Step 5: Discount the Projected Stock Price
Projected stock price: $65.
Including dividends, total future value: $73.6.
Discounted at 10% per
year over 5 years → Fair Value:
$45.
