Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
226.22M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.62%.
Starting with 226.22M and growing at 9.62%
for 5 years, we estimate Free Cash Flow will be
358.08M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 125.61M.
We will project this out 5 year(s) with a growth rate
of 4.64%.
Estimated Diluted Shares Outstanding: 157.59M.
Step 3: Project Future Stock Price
Using a price ratio of 19.04, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(358.08M ÷ 157.59M) × 19.04 =
$43
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.34.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.7.
Step 5: Discount the Projected Stock Price
Projected stock price: $43.
Including dividends, total future value: $49.7.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
