Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
308.55M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.57%.
Starting with 308.55M and growing at 1.57%
for 5 years, we estimate Free Cash Flow will be
333.55M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 124.63M.
We will project this out 5 year(s) with a growth rate
of -0.77%.
Estimated Diluted Shares Outstanding: 119.9M.
Step 3: Project Future Stock Price
Using a price ratio of 10.71, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(333.55M ÷ 119.9M) × 10.71 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.3.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.629351287639415.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $34.63.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
