Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
252.51M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.54%.
Starting with 252.51M and growing at 13.54%
for 5 years, we estimate Free Cash Flow will be
476.46M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 39.14M.
We will project this out 5 year(s) with a growth rate
of 0.18%.
Estimated Diluted Shares Outstanding: 39.5M.
Step 3: Project Future Stock Price
Using a price ratio of 23.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(476.46M ÷ 39.5M) × 23.5 =
$283
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.59.
Projected over 5 years with a growth rate of
-1.69%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.409777892844627.
Step 5: Discount the Projected Stock Price
Projected stock price: $283.
Including dividends, total future value: $295.41.
Discounted at 10% per
year over 5 years → Fair Value:
$183.
