Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
218.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.56%.
Starting with 218.5M and growing at 10.56%
for 5 years, we estimate Free Cash Flow will be
360.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 43.26M.
We will project this out 5 year(s) with a growth rate
of -2.33%.
Estimated Diluted Shares Outstanding: 38.45M.
Step 3: Project Future Stock Price
Using a price ratio of 33.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(360.95M ÷ 38.45M) × 33.34 =
$312
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.51.
Projected over 5 years with a growth rate of
2.67%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.064099109095327.
Step 5: Discount the Projected Stock Price
Projected stock price: $312.
Including dividends, total future value: $320.06.
Discounted at 10% per
year over 5 years → Fair Value:
$198.
