Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
507.57M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.47%.
Starting with 507.57M and growing at 21.47%
for 5 years, we estimate Free Cash Flow will be
1.34B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 588.1M.
We will project this out 5 year(s) with a growth rate
of -2.19%.
Estimated Diluted Shares Outstanding: 526.46M.
Step 3: Project Future Stock Price
Using a price ratio of 4.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.34B ÷ 526.46M) × 4.53 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.1.
Projected over 5 years with a growth rate of
16.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$37.17943093201707.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $48.18.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
