Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
751M
as of Feb 1, 2025.
We will project this out 5 years with a yearly growth
rate of
20.06%.
Starting with 751M and growing at 20.06%
for 5 years, we estimate Free Cash Flow will be
1.87B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 167.24M.
We will project this out 5 year(s) with a growth rate
of 1.59%.
Estimated Diluted Shares Outstanding: 180.96M.
Step 3: Project Future Stock Price
Using a price ratio of 10.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.87B ÷ 180.96M) × 10.53 =
$109
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.95.
Projected over 5 years with a growth rate of
-28.97%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.019752462527028.
Step 5: Discount the Projected Stock Price
Projected stock price: $109.
Including dividends, total future value: $111.02.
Discounted at 10% per
year over 5 years → Fair Value:
$68.
