Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
963M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.24%.
Starting with 963M and growing at 6.24%
for 5 years, we estimate Free Cash Flow will be
1.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 203.01M.
We will project this out 5 year(s) with a growth rate
of -0.04%.
Estimated Diluted Shares Outstanding: 202.61M.
Step 3: Project Future Stock Price
Using a price ratio of 6.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.3B ÷ 202.61M) × 6.78 =
$43
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.
Projected over 5 years with a growth rate of
14.87%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.071093127345294.
Step 5: Discount the Projected Stock Price
Projected stock price: $43.
Including dividends, total future value: $50.07.
Discounted at 10% per
year over 5 years → Fair Value:
$31.
