Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
875.9M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.69%.
Starting with 875.9M and growing at 9.69%
for 5 years, we estimate Free Cash Flow will be
1.39B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.15B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 1.15B.
Step 3: Project Future Stock Price
Using a price ratio of 40.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.39B ÷ 1.15B) × 40.54 =
$49
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.85.
Projected over 5 years with a growth rate of
-1.32%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.111135415294767.
Step 5: Discount the Projected Stock Price
Projected stock price: $49.
Including dividends, total future value: $53.11.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
