Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
348.95M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.11%.
Starting with 348.95M and growing at 15.11%
for 5 years, we estimate Free Cash Flow will be
705.23M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 144.7M.
We will project this out 5 year(s) with a growth rate
of 2.11%.
Estimated Diluted Shares Outstanding: 160.62M.
Step 3: Project Future Stock Price
Using a price ratio of 10.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(705.23M ÷ 160.62M) × 10.36 =
$45
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.85.
Projected over 5 years with a growth rate of
-1.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.115302810246347.
Step 5: Discount the Projected Stock Price
Projected stock price: $45.
Including dividends, total future value: $49.12.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
