Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
577.14M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.41%.
Starting with 577.14M and growing at 0.41%
for 5 years, we estimate Free Cash Flow will be
589.07M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.45B.
We will project this out 5 year(s) with a growth rate
of -1.42%.
Estimated Diluted Shares Outstanding: 1.35B.
Step 3: Project Future Stock Price
Using a price ratio of 12.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(589.07M ÷ 1.35B) × 12.42 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.09.
Projected over 5 years with a growth rate of
-10.20%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.34387717908080717.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $5.34.
Discounted at 10% per
year over 5 years → Fair Value:
$3.
