Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
314.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.74%.
Starting with 314.3M and growing at 5.74%
for 5 years, we estimate Free Cash Flow will be
415.47M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 32.45M.
We will project this out 5 year(s) with a growth rate
of -4.47%.
Estimated Diluted Shares Outstanding: 25.82M.
Step 3: Project Future Stock Price
Using a price ratio of 14.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(415.47M ÷ 25.82M) × 14.36 =
$231
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.25.
Projected over 5 years with a growth rate of
49.63%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.116962814262944.
Step 5: Discount the Projected Stock Price
Projected stock price: $231.
Including dividends, total future value: $248.12.
Discounted at 10% per
year over 5 years → Fair Value:
$154.
