Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
733.75M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.32%.
Starting with 733.75M and growing at 15.32%
for 5 years, we estimate Free Cash Flow will be
1.5B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 147.3M.
We will project this out 5 year(s) with a growth rate
of -2.04%.
Estimated Diluted Shares Outstanding: 132.87M.
Step 3: Project Future Stock Price
Using a price ratio of 19.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.5B ÷ 132.87M) × 19.53 =
$219
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.95.
Projected over 5 years with a growth rate of
12.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.86202960152784.
Step 5: Discount the Projected Stock Price
Projected stock price: $219.
Including dividends, total future value: $238.86.
Discounted at 10% per
year over 5 years → Fair Value:
$148.
