Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
769.18M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.7%.
Starting with 769.18M and growing at 15.7%
for 5 years, we estimate Free Cash Flow will be
1.59B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 77.56M.
We will project this out 5 year(s) with a growth rate
of 0.1%.
Estimated Diluted Shares Outstanding: 77.95M.
Step 3: Project Future Stock Price
Using a price ratio of 12.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.59B ÷ 77.95M) × 12.96 =
$265
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.16.
Projected over 5 years with a growth rate of
2.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.1512843976259.
Step 5: Discount the Projected Stock Price
Projected stock price: $265.
Including dividends, total future value: $271.15.
Discounted at 10% per
year over 5 years → Fair Value:
$168.
