Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
821.39M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.78%.
Starting with 821.39M and growing at 4.78%
for 5 years, we estimate Free Cash Flow will be
1.04B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 121.55M.
We will project this out 5 year(s) with a growth rate
of -3.47%.
Estimated Diluted Shares Outstanding: 101.88M.
Step 3: Project Future Stock Price
Using a price ratio of 7.99, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.04B ÷ 101.88M) × 7.99 =
$81
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.89.
Projected over 5 years with a growth rate of
4.18%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.929704573405426.
Step 5: Discount the Projected Stock Price
Projected stock price: $81.
Including dividends, total future value: $85.93.
Discounted at 10% per
year over 5 years → Fair Value:
$53.
