Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
954M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.67%.
Starting with 954M and growing at -6.67%
for 5 years, we estimate Free Cash Flow will be
675.55M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 157.11M.
We will project this out 5 year(s) with a growth rate
of -12.94%.
Estimated Diluted Shares Outstanding: 78.58M.
Step 3: Project Future Stock Price
Using a price ratio of 15.12, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(675.55M ÷ 78.58M) × 15.12 =
$129
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.32.
Projected over 5 years with a growth rate of
13.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.124010474201292.
Step 5: Discount the Projected Stock Price
Projected stock price: $129.
Including dividends, total future value: $138.12.
Discounted at 10% per
year over 5 years → Fair Value:
$85.
