Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
578.61M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.34%.
Starting with 578.61M and growing at 26.34%
for 5 years, we estimate Free Cash Flow will be
1.86B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 130.62M.
We will project this out 5 year(s) with a growth rate
of 11.13%.
Estimated Diluted Shares Outstanding: 221.4M.
Step 3: Project Future Stock Price
Using a price ratio of 10.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.86B ÷ 221.4M) × 10.08 =
$84
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.2.
Projected over 5 years with a growth rate of
-4.78%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.308498429757971.
Step 5: Discount the Projected Stock Price
Projected stock price: $84.
Including dividends, total future value: $89.31.
Discounted at 10% per
year over 5 years → Fair Value:
$55.
