Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
564.03M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.13%.
Starting with 564.03M and growing at 13.13%
for 5 years, we estimate Free Cash Flow will be
1.05B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.19M.
We will project this out 5 year(s) with a growth rate
of -2.04%.
Estimated Diluted Shares Outstanding: 41.67M.
Step 3: Project Future Stock Price
Using a price ratio of 48.99, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.05B ÷ 41.67M) × 48.99 =
$1228
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.73.
Projected over 5 years with a growth rate of
-1.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$32.484587469415644.
Step 5: Discount the Projected Stock Price
Projected stock price: $1228.
Including dividends, total future value: $1260.48.
Discounted at 10% per
year over 5 years → Fair Value:
$782.
