Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
295.5M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
10.34%.
Starting with 295.5M and growing at 10.34%
for 5 years, we estimate Free Cash Flow will be
483.3M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 66.62M.
We will project this out 5 year(s) with a growth rate
of -4.18%.
Estimated Diluted Shares Outstanding: 53.81M.
Step 3: Project Future Stock Price
Using a price ratio of 8.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(483.3M ÷ 53.81M) × 8.31 =
$74
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.61.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.05.
Step 5: Discount the Projected Stock Price
Projected stock price: $74.
Including dividends, total future value: $77.05.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
