Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
393.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 393.8M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
393.8M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 68.59M.
We will project this out 5 year(s) with a growth rate
of 3.35%.
Estimated Diluted Shares Outstanding: 80.87M.
Step 3: Project Future Stock Price
Using a price ratio of 57.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(393.8M ÷ 80.87M) × 57.25 =
$278
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.95.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.75.
Step 5: Discount the Projected Stock Price
Projected stock price: $278.
Including dividends, total future value: $282.75.
Discounted at 10% per
year over 5 years → Fair Value:
$175.
