Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
371.39M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.19%.
Starting with 371.39M and growing at 8.19%
for 5 years, we estimate Free Cash Flow will be
550.51M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.57M.
We will project this out 5 year(s) with a growth rate
of -1.68%.
Estimated Diluted Shares Outstanding: 13.39M.
Step 3: Project Future Stock Price
Using a price ratio of 27.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(550.51M ÷ 13.39M) × 27.15 =
$1116
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.6.
Projected over 5 years with a growth rate of
3.92%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.31169912471665.
Step 5: Discount the Projected Stock Price
Projected stock price: $1116.
Including dividends, total future value: $1130.31.
Discounted at 10% per
year over 5 years → Fair Value:
$701.
