Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
251.27M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.42%.
Starting with 251.27M and growing at -3.42%
for 5 years, we estimate Free Cash Flow will be
211.14M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.27M.
We will project this out 5 year(s) with a growth rate
of -3.25%.
Estimated Diluted Shares Outstanding: 39.22M.
Step 3: Project Future Stock Price
Using a price ratio of 37.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(211.14M ÷ 39.22M) × 37.09 =
$199
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.44.
Projected over 5 years with a growth rate of
38.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$16.277357009643204.
Step 5: Discount the Projected Stock Price
Projected stock price: $199.
Including dividends, total future value: $215.28.
Discounted at 10% per
year over 5 years → Fair Value:
$133.
