Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
295.33M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.35%.
Starting with 295.33M and growing at 14.35%
for 5 years, we estimate Free Cash Flow will be
577.41M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 76.77M.
We will project this out 5 year(s) with a growth rate
of 5.71%.
Estimated Diluted Shares Outstanding: 101.33M.
Step 3: Project Future Stock Price
Using a price ratio of 11.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(577.41M ÷ 101.33M) × 11.26 =
$64
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.28.
Projected over 5 years with a growth rate of
4.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.82987372700045.
Step 5: Discount the Projected Stock Price
Projected stock price: $64.
Including dividends, total future value: $76.83.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
