Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
631.56M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.51%.
Starting with 631.56M and growing at 15.51%
for 5 years, we estimate Free Cash Flow will be
1.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 484.64M.
We will project this out 5 year(s) with a growth rate
of -0.28%.
Estimated Diluted Shares Outstanding: 477.89M.
Step 3: Project Future Stock Price
Using a price ratio of 44.23, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.3B ÷ 477.89M) × 44.23 =
$120
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.81.
Projected over 5 years with a growth rate of
8.67%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.98573499482924.
Step 5: Discount the Projected Stock Price
Projected stock price: $120.
Including dividends, total future value: $124.99.
Discounted at 10% per
year over 5 years → Fair Value:
$77.
