Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
725.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-12.16%.
Starting with 725.6M and growing at -12.16%
for 5 years, we estimate Free Cash Flow will be
379.45M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 539.68M.
We will project this out 5 year(s) with a growth rate
of 0.95%.
Estimated Diluted Shares Outstanding: 565.81M.
Step 3: Project Future Stock Price
Using a price ratio of 21.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(379.45M ÷ 565.81M) × 21.3 =
$14
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.27.
Projected over 5 years with a growth rate of
13.16%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.460666369446045.
Step 5: Discount the Projected Stock Price
Projected stock price: $14.
Including dividends, total future value: $29.46.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
