Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
569.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.76%.
Starting with 569.6M and growing at 14.76%
for 5 years, we estimate Free Cash Flow will be
1.13B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 84.75M.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 84.8M.
Step 3: Project Future Stock Price
Using a price ratio of 7.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.13B ÷ 84.8M) × 7.3 =
$97
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.15.
Projected over 5 years with a growth rate of
4.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.017728840704251.
Step 5: Discount the Projected Stock Price
Projected stock price: $97.
Including dividends, total future value: $109.02.
Discounted at 10% per
year over 5 years → Fair Value:
$67.
