Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
835.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.6%.
Starting with 835.07M and growing at 12.6%
for 5 years, we estimate Free Cash Flow will be
1.51B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 295M.
We will project this out 5 year(s) with a growth rate
of 4.02%.
Estimated Diluted Shares Outstanding: 359.26M.
Step 3: Project Future Stock Price
Using a price ratio of 12.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.51B ÷ 359.26M) × 12.86 =
$54
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.35.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.506405241224648.
Step 5: Discount the Projected Stock Price
Projected stock price: $54.
Including dividends, total future value: $68.51.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
