Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
607.87M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.87%.
Starting with 607.87M and growing at 3.87%
for 5 years, we estimate Free Cash Flow will be
734.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 123.63M.
We will project this out 5 year(s) with a growth rate
of -3.19%.
Estimated Diluted Shares Outstanding: 105.13M.
Step 3: Project Future Stock Price
Using a price ratio of 18.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(734.95M ÷ 105.13M) × 18.17 =
$127
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.44.
Projected over 5 years with a growth rate of
-7.41%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.939401805756001.
Step 5: Discount the Projected Stock Price
Projected stock price: $127.
Including dividends, total future value: $132.94.
Discounted at 10% per
year over 5 years → Fair Value:
$82.
