Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
561.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.69%.
Starting with 561.8M and growing at 11.69%
for 5 years, we estimate Free Cash Flow will be
976.46M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 297.54M.
We will project this out 5 year(s) with a growth rate
of -0.49%.
Estimated Diluted Shares Outstanding: 290.32M.
Step 3: Project Future Stock Price
Using a price ratio of 8.79, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(976.46M ÷ 290.32M) × 8.79 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.62.
Projected over 5 years with a growth rate of
18.06%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.839386713643375.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $48.84.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
