Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
748.86M
as of Jul 4, 2025.
We will project this out 5 years with a yearly growth
rate of
4.27%.
Starting with 748.86M and growing at 4.27%
for 5 years, we estimate Free Cash Flow will be
922.99M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 269.2M.
We will project this out 5 year(s) with a growth rate
of -1.23%.
Estimated Diluted Shares Outstanding: 253.05M.
Step 3: Project Future Stock Price
Using a price ratio of 24.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(922.99M ÷ 253.05M) × 24.68 =
$90
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $90.
Including dividends, total future value: $90.
Discounted at 10% per
year over 5 years → Fair Value:
$55.
