Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
435.38M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.03%.
Starting with 435.38M and growing at -3.03%
for 5 years, we estimate Free Cash Flow will be
373.3M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 145.64M.
We will project this out 5 year(s) with a growth rate
of -1.43%.
Estimated Diluted Shares Outstanding: 135.52M.
Step 3: Project Future Stock Price
Using a price ratio of 18.43, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(373.3M ÷ 135.52M) × 18.43 =
$50
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.
Step 5: Discount the Projected Stock Price
Projected stock price: $50.
Including dividends, total future value: $53.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
