Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
317.82M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.1%.
Starting with 317.82M and growing at 12.1%
for 5 years, we estimate Free Cash Flow will be
562.62M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 128.43M.
We will project this out 5 year(s) with a growth rate
of -0.02%.
Estimated Diluted Shares Outstanding: 128.3M.
Step 3: Project Future Stock Price
Using a price ratio of 6.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(562.62M ÷ 128.3M) × 6.61 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.4.
Projected over 5 years with a growth rate of
37.97%, dividends add to total shareholder return.
Expected dividends in 5 years:
$38.011112631118586.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $66.01.
Discounted at 10% per
year over 5 years → Fair Value:
$40.
