Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
465.21M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.09%.
Starting with 465.21M and growing at 9.09%
for 5 years, we estimate Free Cash Flow will be
718.75M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 77.75M.
We will project this out 5 year(s) with a growth rate
of 4.14%.
Estimated Diluted Shares Outstanding: 95.24M.
Step 3: Project Future Stock Price
Using a price ratio of 30.35, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(718.75M ÷ 95.24M) × 30.35 =
$229
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.84.
Projected over 5 years with a growth rate of
7.63%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.047573377579111.
Step 5: Discount the Projected Stock Price
Projected stock price: $229.
Including dividends, total future value: $234.05.
Discounted at 10% per
year over 5 years → Fair Value:
$145.
