Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
228M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 228M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
228M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.59M.
We will project this out 5 year(s) with a growth rate
of -11.53%.
Estimated Diluted Shares Outstanding: 25.79M.
Step 3: Project Future Stock Price
Using a price ratio of 31.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(228M ÷ 25.79M) × 31.53 =
$278
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.64.
Projected over 5 years with a growth rate of
4.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.259345157828495.
Step 5: Discount the Projected Stock Price
Projected stock price: $278.
Including dividends, total future value: $287.26.
Discounted at 10% per
year over 5 years → Fair Value:
$178.
