Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
206.62M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.67%.
Starting with 206.62M and growing at 18.67%
for 5 years, we estimate Free Cash Flow will be
486.27M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 125.79M.
We will project this out 5 year(s) with a growth rate
of 0.25%.
Estimated Diluted Shares Outstanding: 127.37M.
Step 3: Project Future Stock Price
Using a price ratio of 46.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(486.27M ÷ 127.37M) × 46.59 =
$177
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.74.
Projected over 5 years with a growth rate of
-3.47%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.387329852266923.
Step 5: Discount the Projected Stock Price
Projected stock price: $177.
Including dividends, total future value: $180.39.
Discounted at 10% per
year over 5 years → Fair Value:
$112.
