Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
329.45M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.18%.
Starting with 329.45M and growing at 20.18%
for 5 years, we estimate Free Cash Flow will be
825.94M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 81.19M.
We will project this out 5 year(s) with a growth rate
of 0.13%.
Estimated Diluted Shares Outstanding: 81.72M.
Step 3: Project Future Stock Price
Using a price ratio of 57.76, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(825.94M ÷ 81.72M) × 57.76 =
$583
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.81.
Projected over 5 years with a growth rate of
3.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.850875192038387.
Step 5: Discount the Projected Stock Price
Projected stock price: $583.
Including dividends, total future value: $592.85.
Discounted at 10% per
year over 5 years → Fair Value:
$368.
