Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
624.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.53%.
Starting with 624.81M and growing at 15.53%
for 5 years, we estimate Free Cash Flow will be
1.29B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 91.83M.
We will project this out 5 year(s) with a growth rate
of 0.42%.
Estimated Diluted Shares Outstanding: 93.77M.
Step 3: Project Future Stock Price
Using a price ratio of 15.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.29B ÷ 93.77M) × 15.64 =
$214
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.76.
Projected over 5 years with a growth rate of
-13.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.581086064436812.
Step 5: Discount the Projected Stock Price
Projected stock price: $214.
Including dividends, total future value: $223.58.
Discounted at 10% per
year over 5 years → Fair Value:
$138.
