Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
800M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-15.96%.
Starting with 800M and growing at -15.96%
for 5 years, we estimate Free Cash Flow will be
335.37M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 225.7M.
We will project this out 5 year(s) with a growth rate
of -0.28%.
Estimated Diluted Shares Outstanding: 222.56M.
Step 3: Project Future Stock Price
Using a price ratio of 33.84, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(335.37M ÷ 222.56M) × 33.84 =
$50
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.43.
Projected over 5 years with a growth rate of
-0.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.02593280330528.
Step 5: Discount the Projected Stock Price
Projected stock price: $50.
Including dividends, total future value: $67.03.
Discounted at 10% per
year over 5 years → Fair Value:
$41.
