Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
348.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.05%.
Starting with 348.26M and growing at -0.05%
for 5 years, we estimate Free Cash Flow will be
347.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 118.55M.
We will project this out 5 year(s) with a growth rate
of 5.08%.
Estimated Diluted Shares Outstanding: 151.88M.
Step 3: Project Future Stock Price
Using a price ratio of 14.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(347.39M ÷ 151.88M) × 14.82 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.65.
Projected over 5 years with a growth rate of
-6.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.987076885549902.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $39.99.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
