Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
594.56M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.28%.
Starting with 594.56M and growing at 6.28%
for 5 years, we estimate Free Cash Flow will be
806.22M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 331.35M.
We will project this out 5 year(s) with a growth rate
of 2.91%.
Estimated Diluted Shares Outstanding: 382.45M.
Step 3: Project Future Stock Price
Using a price ratio of 26.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(806.22M ÷ 382.45M) × 26.86 =
$56
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.14.
Projected over 5 years with a growth rate of
3.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.74848198538078.
Step 5: Discount the Projected Stock Price
Projected stock price: $56.
Including dividends, total future value: $67.75.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
