Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
268.71M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.83%.
Starting with 268.71M and growing at 7.83%
for 5 years, we estimate Free Cash Flow will be
391.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 95.76M.
We will project this out 5 year(s) with a growth rate
of -0.71%.
Estimated Diluted Shares Outstanding: 92.4M.
Step 3: Project Future Stock Price
Using a price ratio of 13.23, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(391.72M ÷ 92.4M) × 13.23 =
$56
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.21.
Projected over 5 years with a growth rate of
-4.52%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.389350144392628.
Step 5: Discount the Projected Stock Price
Projected stock price: $56.
Including dividends, total future value: $61.39.
Discounted at 10% per
year over 5 years → Fair Value:
$38.
