Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
538.65M
as of Apr 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.94%.
Starting with 538.65M and growing at 0.94%
for 5 years, we estimate Free Cash Flow will be
564.45M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 53.09M.
We will project this out 5 year(s) with a growth rate
of -0.73%.
Estimated Diluted Shares Outstanding: 51.18M.
Step 3: Project Future Stock Price
Using a price ratio of 10.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(564.45M ÷ 51.18M) × 10.42 =
$114
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.48.
Projected over 5 years with a growth rate of
-1.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.931128687223667.
Step 5: Discount the Projected Stock Price
Projected stock price: $114.
Including dividends, total future value: $125.93.
Discounted at 10% per
year over 5 years → Fair Value:
$78.
