Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
563.41M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.69%.
Starting with 563.41M and growing at 10.69%
for 5 years, we estimate Free Cash Flow will be
936.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 174.27M.
We will project this out 5 year(s) with a growth rate
of -1.56%.
Estimated Diluted Shares Outstanding: 161.09M.
Step 3: Project Future Stock Price
Using a price ratio of 15.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(936.2M ÷ 161.09M) × 15.81 =
$91
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.81.
Projected over 5 years with a growth rate of
5.51%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.631152485292155.
Step 5: Discount the Projected Stock Price
Projected stock price: $91.
Including dividends, total future value: $95.63.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
