Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
252.06M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.87%.
Starting with 252.06M and growing at 15.87%
for 5 years, we estimate Free Cash Flow will be
526.46M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 78.79M.
We will project this out 5 year(s) with a growth rate
of -1.59%.
Estimated Diluted Shares Outstanding: 72.72M.
Step 3: Project Future Stock Price
Using a price ratio of 8.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(526.46M ÷ 72.72M) × 8.87 =
$64
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.33.
Projected over 5 years with a growth rate of
-1.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.3806944096226.
Step 5: Discount the Projected Stock Price
Projected stock price: $64.
Including dividends, total future value: $70.38.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
