Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
318.78M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.56%.
Starting with 318.78M and growing at 4.56%
for 5 years, we estimate Free Cash Flow will be
398.4M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 82.55M.
We will project this out 5 year(s) with a growth rate
of -5.75%.
Estimated Diluted Shares Outstanding: 61.39M.
Step 3: Project Future Stock Price
Using a price ratio of 11.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(398.4M ÷ 61.39M) × 11.98 =
$77
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.05.
Projected over 5 years with a growth rate of
10.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.759891435066873.
Step 5: Discount the Projected Stock Price
Projected stock price: $77.
Including dividends, total future value: $83.76.
Discounted at 10% per
year over 5 years → Fair Value:
$52.
