Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
454M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
0.87%.
Starting with 454M and growing at 0.87%
for 5 years, we estimate Free Cash Flow will be
474.1M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 40.95M.
We will project this out 5 year(s) with a growth rate
of -3.17%.
Estimated Diluted Shares Outstanding: 34.86M.
Step 3: Project Future Stock Price
Using a price ratio of 5.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(474.1M ÷ 34.86M) × 5.55 =
$75
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.54.
Projected over 5 years with a growth rate of
27.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.153443448929922.
Step 5: Discount the Projected Stock Price
Projected stock price: $75.
Including dividends, total future value: $89.15.
Discounted at 10% per
year over 5 years → Fair Value:
$55.
