Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
666.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.37%.
Starting with 666.5M and growing at -3.37%
for 5 years, we estimate Free Cash Flow will be
561.51M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 101.8M.
We will project this out 5 year(s) with a growth rate
of -1.7%.
Estimated Diluted Shares Outstanding: 93.44M.
Step 3: Project Future Stock Price
Using a price ratio of 14.19, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(561.51M ÷ 93.44M) × 14.19 =
$85
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.17.
Projected over 5 years with a growth rate of
-1.75%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.381524561845973.
Step 5: Discount the Projected Stock Price
Projected stock price: $85.
Including dividends, total future value: $95.38.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
