Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
809.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.6%.
Starting with 809.07M and growing at 12.6%
for 5 years, we estimate Free Cash Flow will be
1.46B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 32.39M.
We will project this out 5 year(s) with a growth rate
of -4.17%.
Estimated Diluted Shares Outstanding: 26.18M.
Step 3: Project Future Stock Price
Using a price ratio of 9.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.46B ÷ 26.18M) × 9.94 =
$556
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.02.
Projected over 5 years with a growth rate of
14.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$28.06833422109712.
Step 5: Discount the Projected Stock Price
Projected stock price: $556.
Including dividends, total future value: $584.07.
Discounted at 10% per
year over 5 years → Fair Value:
$362.
