Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
711M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.51%.
Starting with 711M and growing at -0.51%
for 5 years, we estimate Free Cash Flow will be
693.05M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 83.62M.
We will project this out 5 year(s) with a growth rate
of -6.48%.
Estimated Diluted Shares Outstanding: 59.82M.
Step 3: Project Future Stock Price
Using a price ratio of 9.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(693.05M ÷ 59.82M) × 9.75 =
$112
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.06.
Projected over 5 years with a growth rate of
3.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.784368787679826.
Step 5: Discount the Projected Stock Price
Projected stock price: $112.
Including dividends, total future value: $117.78.
Discounted at 10% per
year over 5 years → Fair Value:
$73.
