Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
217.69M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.11%.
Starting with 217.69M and growing at 7.11%
for 5 years, we estimate Free Cash Flow will be
306.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 44.48M.
We will project this out 5 year(s) with a growth rate
of -0.13%.
Estimated Diluted Shares Outstanding: 44.2M.
Step 3: Project Future Stock Price
Using a price ratio of 42.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(306.9M ÷ 44.2M) × 42.21 =
$293
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.04.
Projected over 5 years with a growth rate of
5.10%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.888573954282817.
Step 5: Discount the Projected Stock Price
Projected stock price: $293.
Including dividends, total future value: $298.89.
Discounted at 10% per
year over 5 years → Fair Value:
$185.
