Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
406.13M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 406.13M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
406.13M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 63M.
We will project this out 5 year(s) with a growth rate
of -6.78%.
Estimated Diluted Shares Outstanding: 44.35M.
Step 3: Project Future Stock Price
Using a price ratio of 8.97, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(406.13M ÷ 44.35M) × 8.97 =
$82
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.88.
Projected over 5 years with a growth rate of
8.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.389228122194274.
Step 5: Discount the Projected Stock Price
Projected stock price: $82.
Including dividends, total future value: $87.39.
Discounted at 10% per
year over 5 years → Fair Value:
$54.
