Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
971M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.4%.
Starting with 971M and growing at 9.4%
for 5 years, we estimate Free Cash Flow will be
1.52B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 507.75M.
We will project this out 5 year(s) with a growth rate
of 11.51%.
Estimated Diluted Shares Outstanding: 875.42M.
Step 3: Project Future Stock Price
Using a price ratio of 10.66, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.52B ÷ 875.42M) × 10.66 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.75.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.2477026659458166.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $21.25.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
