Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
660.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 660.7M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
660.7M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 45.73M.
We will project this out 5 year(s) with a growth rate
of 2.28%.
Estimated Diluted Shares Outstanding: 51.19M.
Step 3: Project Future Stock Price
Using a price ratio of 2.2, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(660.7M ÷ 51.19M) × 2.2 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.15.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.6495405331891633.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $28.65.
Discounted at 10% per
year over 5 years → Fair Value:
$17.
