Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
284.75M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.1%.
Starting with 284.75M and growing at -5.1%
for 5 years, we estimate Free Cash Flow will be
219.17M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 101.74M.
We will project this out 5 year(s) with a growth rate
of -2.41%.
Estimated Diluted Shares Outstanding: 90.06M.
Step 3: Project Future Stock Price
Using a price ratio of 32.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(219.17M ÷ 90.06M) × 32.49 =
$79
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.3.
Projected over 5 years with a growth rate of
5.41%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.11904958949165.
Step 5: Discount the Projected Stock Price
Projected stock price: $79.
Including dividends, total future value: $92.12.
Discounted at 10% per
year over 5 years → Fair Value:
$57.
