Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
263.62M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
25.48%.
Starting with 263.62M and growing at 25.48%
for 5 years, we estimate Free Cash Flow will be
820.06M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 159.52M.
We will project this out 5 year(s) with a growth rate
of 2.82%.
Estimated Diluted Shares Outstanding: 183.32M.
Step 3: Project Future Stock Price
Using a price ratio of 21.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(820.06M ÷ 183.32M) × 21.7 =
$97
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.75.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.75.
Step 5: Discount the Projected Stock Price
Projected stock price: $97.
Including dividends, total future value: $100.75.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
