Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
625.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-8.38%.
Starting with 625.4M and growing at -8.38%
for 5 years, we estimate Free Cash Flow will be
403.75M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 89.98M.
We will project this out 5 year(s) with a growth rate
of -1%.
Estimated Diluted Shares Outstanding: 85.57M.
Step 3: Project Future Stock Price
Using a price ratio of 23.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(403.75M ÷ 85.57M) × 23.98 =
$113
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.25.
Projected over 5 years with a growth rate of
2.16%, dividends add to total shareholder return.
Expected dividends in 5 years:
$32.96493565098604.
Step 5: Discount the Projected Stock Price
Projected stock price: $113.
Including dividends, total future value: $145.96.
Discounted at 10% per
year over 5 years → Fair Value:
$90.
