Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
332.48M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.02%.
Starting with 332.48M and growing at 7.02%
for 5 years, we estimate Free Cash Flow will be
466.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 113.17M.
We will project this out 5 year(s) with a growth rate
of 3.66%.
Estimated Diluted Shares Outstanding: 135.46M.
Step 3: Project Future Stock Price
Using a price ratio of 12.19, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(466.76M ÷ 135.46M) × 12.19 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.41.
Projected over 5 years with a growth rate of
3.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.744551142033122.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $49.74.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
