Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
402.39M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.86%.
Starting with 402.39M and growing at 7.86%
for 5 years, we estimate Free Cash Flow will be
587.42M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 77.87M.
We will project this out 5 year(s) with a growth rate
of 7.86%.
Estimated Diluted Shares Outstanding: 113.68M.
Step 3: Project Future Stock Price
Using a price ratio of 1.62, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(587.42M ÷ 113.68M) × 1.62 =
$8
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.91.
Projected over 5 years with a growth rate of
15.20%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.481008549750746.
Step 5: Discount the Projected Stock Price
Projected stock price: $8.
Including dividends, total future value: $14.48.
Discounted at 10% per
year over 5 years → Fair Value:
$8.
