Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
450.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.27%.
Starting with 450.81M and growing at 10.27%
for 5 years, we estimate Free Cash Flow will be
734.99M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 62.16M.
We will project this out 5 year(s) with a growth rate
of -1.05%.
Estimated Diluted Shares Outstanding: 58.96M.
Step 3: Project Future Stock Price
Using a price ratio of 8.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(734.99M ÷ 58.96M) × 8.3 =
$103
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.4.
Projected over 5 years with a growth rate of
4.94%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.896791831632943.
Step 5: Discount the Projected Stock Price
Projected stock price: $103.
Including dividends, total future value: $110.9.
Discounted at 10% per
year over 5 years → Fair Value:
$68.
