Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
314.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.68%.
Starting with 314.8M and growing at -5.68%
for 5 years, we estimate Free Cash Flow will be
234.99M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 69.64M.
We will project this out 5 year(s) with a growth rate
of -1.65%.
Estimated Diluted Shares Outstanding: 64.08M.
Step 3: Project Future Stock Price
Using a price ratio of 18.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(234.99M ÷ 64.08M) × 18.64 =
$68
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.72.
Projected over 5 years with a growth rate of
-1.65%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.249627933640246.
Step 5: Discount the Projected Stock Price
Projected stock price: $68.
Including dividends, total future value: $76.25.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
