Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
303.01M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8%.
Starting with 303.01M and growing at 8%
for 5 years, we estimate Free Cash Flow will be
445.23M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 112.93M.
We will project this out 5 year(s) with a growth rate
of 0.23%.
Estimated Diluted Shares Outstanding: 114.23M.
Step 3: Project Future Stock Price
Using a price ratio of 13.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(445.23M ÷ 114.23M) × 13.39 =
$52
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.5.
Projected over 5 years with a growth rate of
-3.62%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.839566371207171.
Step 5: Discount the Projected Stock Price
Projected stock price: $52.
Including dividends, total future value: $58.84.
Discounted at 10% per
year over 5 years → Fair Value:
$36.
