Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
749.38M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.78%.
Starting with 749.38M and growing at 17.78%
for 5 years, we estimate Free Cash Flow will be
1.7B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 113.5M.
We will project this out 5 year(s) with a growth rate
of -2.44%.
Estimated Diluted Shares Outstanding: 100.32M.
Step 3: Project Future Stock Price
Using a price ratio of 7.71, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.7B ÷ 100.32M) × 7.71 =
$130
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.1.
Projected over 5 years with a growth rate of
3.67%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.490053355893753.
Step 5: Discount the Projected Stock Price
Projected stock price: $130.
Including dividends, total future value: $141.49.
Discounted at 10% per
year over 5 years → Fair Value:
$87.
