Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
206.1M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.29%.
Starting with 206.1M and growing at 6.29%
for 5 years, we estimate Free Cash Flow will be
279.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 167.22M.
We will project this out 5 year(s) with a growth rate
of 3.09%.
Estimated Diluted Shares Outstanding: 194.71M.
Step 3: Project Future Stock Price
Using a price ratio of 69.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(279.6M ÷ 194.71M) × 69.14 =
$99
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.95.
Projected over 5 years with a growth rate of
18.82%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.004740392730916.
Step 5: Discount the Projected Stock Price
Projected stock price: $99.
Including dividends, total future value: $114.
Discounted at 10% per
year over 5 years → Fair Value:
$70.
