Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
780.91M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.97%.
Starting with 780.91M and growing at 11.97%
for 5 years, we estimate Free Cash Flow will be
1.37B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 210.17M.
We will project this out 5 year(s) with a growth rate
of -2.14%.
Estimated Diluted Shares Outstanding: 188.62M.
Step 3: Project Future Stock Price
Using a price ratio of 46.11, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.37B ÷ 188.62M) × 46.11 =
$335
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.36.
Projected over 5 years with a growth rate of
22.73%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.347122626857862.
Step 5: Discount the Projected Stock Price
Projected stock price: $335.
Including dividends, total future value: $346.35.
Discounted at 10% per
year over 5 years → Fair Value:
$215.
