Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
394.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.96%.
Starting with 394.5M and growing at -2.96%
for 5 years, we estimate Free Cash Flow will be
339.47M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 175.3M.
We will project this out 5 year(s) with a growth rate
of -0.14%.
Estimated Diluted Shares Outstanding: 174.08M.
Step 3: Project Future Stock Price
Using a price ratio of 57.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(339.47M ÷ 174.08M) × 57.01 =
$111
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.47.
Projected over 5 years with a growth rate of
-33.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.8344633018101739.
Step 5: Discount the Projected Stock Price
Projected stock price: $111.
Including dividends, total future value: $111.83.
Discounted at 10% per
year over 5 years → Fair Value:
$69.
