Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
700.51M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.19%.
Starting with 700.51M and growing at 16.19%
for 5 years, we estimate Free Cash Flow will be
1.48B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 147.51M.
We will project this out 5 year(s) with a growth rate
of -0.66%.
Estimated Diluted Shares Outstanding: 142.7M.
Step 3: Project Future Stock Price
Using a price ratio of 7.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.48B ÷ 142.7M) × 7.15 =
$74
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.98.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.9.
Step 5: Discount the Projected Stock Price
Projected stock price: $74.
Including dividends, total future value: $78.9.
Discounted at 10% per
year over 5 years → Fair Value:
$48.
