Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
324.83M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.32%.
Starting with 324.83M and growing at -5.32%
for 5 years, we estimate Free Cash Flow will be
247.14M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 69.09M.
We will project this out 5 year(s) with a growth rate
of -2.06%.
Estimated Diluted Shares Outstanding: 62.26M.
Step 3: Project Future Stock Price
Using a price ratio of 8.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(247.14M ÷ 62.26M) × 8.54 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.7.
Projected over 5 years with a growth rate of
-3.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.709353603441372.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $40.71.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
