Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
504.92M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.66%.
Starting with 504.92M and growing at 7.66%
for 5 years, we estimate Free Cash Flow will be
730.28M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 55.19M.
We will project this out 5 year(s) with a growth rate
of -1.81%.
Estimated Diluted Shares Outstanding: 50.37M.
Step 3: Project Future Stock Price
Using a price ratio of 24.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(730.28M ÷ 50.37M) × 24.02 =
$348
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.71.
Projected over 5 years with a growth rate of
2.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.77454450153943.
Step 5: Discount the Projected Stock Price
Projected stock price: $348.
Including dividends, total future value: $367.77.
Discounted at 10% per
year over 5 years → Fair Value:
$228.
