Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
367.91M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.17%.
Starting with 367.91M and growing at 10.17%
for 5 years, we estimate Free Cash Flow will be
597.11M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.36M.
We will project this out 5 year(s) with a growth rate
of -0.15%.
Estimated Diluted Shares Outstanding: 37.08M.
Step 3: Project Future Stock Price
Using a price ratio of 45.41, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(597.11M ÷ 37.08M) × 45.41 =
$731
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.76.
Projected over 5 years with a growth rate of
-1.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.32426116742946.
Step 5: Discount the Projected Stock Price
Projected stock price: $731.
Including dividends, total future value: $749.32.
Discounted at 10% per
year over 5 years → Fair Value:
$465.
