Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
311.56M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
19.18%.
Starting with 311.56M and growing at 19.18%
for 5 years, we estimate Free Cash Flow will be
749.13M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 192.04M.
We will project this out 5 year(s) with a growth rate
of 0.58%.
Estimated Diluted Shares Outstanding: 197.67M.
Step 3: Project Future Stock Price
Using a price ratio of 26.92, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(749.13M ÷ 197.67M) × 26.92 =
$102
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.74.
Projected over 5 years with a growth rate of
-30.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.4856388485136838.
Step 5: Discount the Projected Stock Price
Projected stock price: $102.
Including dividends, total future value: $103.49.
Discounted at 10% per
year over 5 years → Fair Value:
$64.
