Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
207.13M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.43%.
Starting with 207.13M and growing at -0.43%
for 5 years, we estimate Free Cash Flow will be
202.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 49.5M.
We will project this out 5 year(s) with a growth rate
of 4.65%.
Estimated Diluted Shares Outstanding: 62.13M.
Step 3: Project Future Stock Price
Using a price ratio of 46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(202.72M ÷ 62.13M) × 46 =
$150
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.3.
Projected over 5 years with a growth rate of
8.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.8372368598389568.
Step 5: Discount the Projected Stock Price
Projected stock price: $150.
Including dividends, total future value: $151.84.
Discounted at 10% per
year over 5 years → Fair Value:
$94.
