Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
680.1M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.91%.
Starting with 680.1M and growing at 21.91%
for 5 years, we estimate Free Cash Flow will be
1.83B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 35.12M.
We will project this out 5 year(s) with a growth rate
of -1.9%.
Estimated Diluted Shares Outstanding: 31.91M.
Step 3: Project Future Stock Price
Using a price ratio of 31.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.83B ÷ 31.91M) × 31.09 =
$1784
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.05.
Projected over 5 years with a growth rate of
4.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$33.38239583985086.
Step 5: Discount the Projected Stock Price
Projected stock price: $1784.
Including dividends, total future value: $1817.38.
Discounted at 10% per
year over 5 years → Fair Value:
$1128.
