Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
185.87M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 185.87M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
185.87M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 90.36M.
We will project this out 5 year(s) with a growth rate
of 1.25%.
Estimated Diluted Shares Outstanding: 96.15M.
Step 3: Project Future Stock Price
Using a price ratio of 432.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(185.87M ÷ 96.15M) × 432.02 =
$835
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.62.
Projected over 5 years with a growth rate of
-2.18%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.397680553964214.
Step 5: Discount the Projected Stock Price
Projected stock price: $835.
Including dividends, total future value: $847.4.
Discounted at 10% per
year over 5 years → Fair Value:
$526.
