Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
676M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.29%.
Starting with 676M and growing at 0.29%
for 5 years, we estimate Free Cash Flow will be
685.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 257.29M.
We will project this out 5 year(s) with a growth rate
of -3.23%.
Estimated Diluted Shares Outstanding: 218.34M.
Step 3: Project Future Stock Price
Using a price ratio of 13.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(685.86M ÷ 218.34M) × 13.55 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.5.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.5.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $49.5.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
