Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
633.51M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.72%.
Starting with 633.51M and growing at -5.72%
for 5 years, we estimate Free Cash Flow will be
471.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 67.58M.
We will project this out 5 year(s) with a growth rate
of -5.88%.
Estimated Diluted Shares Outstanding: 49.92M.
Step 3: Project Future Stock Price
Using a price ratio of 9.74, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(471.9M ÷ 49.92M) × 9.74 =
$92
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.47.
Projected over 5 years with a growth rate of
6.09%, dividends add to total shareholder return.
Expected dividends in 5 years:
$20.113405189105.
Step 5: Discount the Projected Stock Price
Projected stock price: $92.
Including dividends, total future value: $112.11.
Discounted at 10% per
year over 5 years → Fair Value:
$69.
