Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
556.63M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.2%.
Starting with 556.63M and growing at -5.2%
for 5 years, we estimate Free Cash Flow will be
426.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 137.13M.
We will project this out 5 year(s) with a growth rate
of -1.16%.
Estimated Diluted Shares Outstanding: 129.36M.
Step 3: Project Future Stock Price
Using a price ratio of 27.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(426.19M ÷ 129.36M) × 27.07 =
$89
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.58.
Projected over 5 years with a growth rate of
-4.68%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.443260761914686.
Step 5: Discount the Projected Stock Price
Projected stock price: $89.
Including dividends, total future value: $100.44.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
