Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
334.02M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.53%.
Starting with 334.02M and growing at 3.53%
for 5 years, we estimate Free Cash Flow will be
397.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 151.32M.
We will project this out 5 year(s) with a growth rate
of -2.18%.
Estimated Diluted Shares Outstanding: 135.53M.
Step 3: Project Future Stock Price
Using a price ratio of 4.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(397.29M ÷ 135.53M) × 4.96 =
$14
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.75.
Projected over 5 years with a growth rate of
62.27%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.578442190751042.
Step 5: Discount the Projected Stock Price
Projected stock price: $14.
Including dividends, total future value: $26.58.
Discounted at 10% per
year over 5 years → Fair Value:
$16.
