Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
427.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 427.5M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
427.5M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 215.19M.
We will project this out 5 year(s) with a growth rate
of -0.98%.
Estimated Diluted Shares Outstanding: 204.85M.
Step 3: Project Future Stock Price
Using a price ratio of 33.48, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(427.5M ÷ 204.85M) × 33.48 =
$69
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.25.
Projected over 5 years with a growth rate of
17.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$32.03249514337815.
Step 5: Discount the Projected Stock Price
Projected stock price: $69.
Including dividends, total future value: $101.03.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
