Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
525M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.82%.
Starting with 525M and growing at 17.82%
for 5 years, we estimate Free Cash Flow will be
1.19B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 67.16M.
We will project this out 5 year(s) with a growth rate
of 4.17%.
Estimated Diluted Shares Outstanding: 82.38M.
Step 3: Project Future Stock Price
Using a price ratio of 19.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.19B ÷ 82.38M) × 19.34 =
$279
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.1.
Projected over 5 years with a growth rate of
-3.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.9961895189890235.
Step 5: Discount the Projected Stock Price
Projected stock price: $279.
Including dividends, total future value: $284.
Discounted at 10% per
year over 5 years → Fair Value:
$176.
