Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
276M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 276M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
276M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 69.64M.
We will project this out 5 year(s) with a growth rate
of -10.41%.
Estimated Diluted Shares Outstanding: 40.19M.
Step 3: Project Future Stock Price
Using a price ratio of 22.84, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(276M ÷ 40.19M) × 22.84 =
$156
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.36.
Projected over 5 years with a growth rate of
7.69%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.18365580386628.
Step 5: Discount the Projected Stock Price
Projected stock price: $156.
Including dividends, total future value: $164.18.
Discounted at 10% per
year over 5 years → Fair Value:
$101.
