Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
277.11M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.45%.
Starting with 277.11M and growing at 3.45%
for 5 years, we estimate Free Cash Flow will be
328.33M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 59.97M.
We will project this out 5 year(s) with a growth rate
of -0.76%.
Estimated Diluted Shares Outstanding: 57.72M.
Step 3: Project Future Stock Price
Using a price ratio of 32.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(328.33M ÷ 57.72M) × 32.52 =
$184
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.37.
Projected over 5 years with a growth rate of
16.42%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.017504792220048.
Step 5: Discount the Projected Stock Price
Projected stock price: $184.
Including dividends, total future value: $194.02.
Discounted at 10% per
year over 5 years → Fair Value:
$120.
