Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
511.14M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
24.7%.
Starting with 511.14M and growing at 24.7%
for 5 years, we estimate Free Cash Flow will be
1.54B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 326.96M.
We will project this out 5 year(s) with a growth rate
of 12.49%.
Estimated Diluted Shares Outstanding: 588.92M.
Step 3: Project Future Stock Price
Using a price ratio of 15.4, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.54B ÷ 588.92M) × 15.4 =
$40
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.19.
Projected over 5 years with a growth rate of
14.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.47558513402438.
Step 5: Discount the Projected Stock Price
Projected stock price: $40.
Including dividends, total future value: $55.48.
Discounted at 10% per
year over 5 years → Fair Value:
$34.
