Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
503.38M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.57%.
Starting with 503.38M and growing at 6.57%
for 5 years, we estimate Free Cash Flow will be
691.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.68M.
We will project this out 5 year(s) with a growth rate
of -2.26%.
Estimated Diluted Shares Outstanding: 33.61M.
Step 3: Project Future Stock Price
Using a price ratio of 23.18, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(691.95M ÷ 33.61M) × 23.18 =
$477
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.11.
Projected over 5 years with a growth rate of
0.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.590325058846851.
Step 5: Discount the Projected Stock Price
Projected stock price: $477.
Including dividends, total future value: $482.59.
Discounted at 10% per
year over 5 years → Fair Value:
$299.
