Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
120.92M
as of Jul 4, 2025.
We will project this out 5 years with a yearly growth
rate of
10.11%.
Starting with 120.92M and growing at 10.11%
for 5 years, we estimate Free Cash Flow will be
195.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 50.5M.
We will project this out 5 year(s) with a growth rate
of -0.87%.
Estimated Diluted Shares Outstanding: 48.34M.
Step 3: Project Future Stock Price
Using a price ratio of 45.05, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(195.72M ÷ 48.34M) × 45.05 =
$182
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.46.
Projected over 5 years with a growth rate of
3.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.944089708922913.
Step 5: Discount the Projected Stock Price
Projected stock price: $182.
Including dividends, total future value: $189.94.
Discounted at 10% per
year over 5 years → Fair Value:
$117.
