Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
432.9M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 432.9M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
432.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 31.79M.
We will project this out 5 year(s) with a growth rate
of -4.61%.
Estimated Diluted Shares Outstanding: 25.11M.
Step 3: Project Future Stock Price
Using a price ratio of 9.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(432.9M ÷ 25.11M) × 9.07 =
$156
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.38.
Projected over 5 years with a growth rate of
2.93%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.4165857552427195.
Step 5: Discount the Projected Stock Price
Projected stock price: $156.
Including dividends, total future value: $163.42.
Discounted at 10% per
year over 5 years → Fair Value:
$101.
