Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
844.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.19%.
Starting with 844.8M and growing at 6.19%
for 5 years, we estimate Free Cash Flow will be
1.14B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 35.77M.
We will project this out 5 year(s) with a growth rate
of -2.16%.
Estimated Diluted Shares Outstanding: 32.07M.
Step 3: Project Future Stock Price
Using a price ratio of 7.65, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.14B ÷ 32.07M) × 7.65 =
$272
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.45.
Projected over 5 years with a growth rate of
0.37%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.45638398172143.
Step 5: Discount the Projected Stock Price
Projected stock price: $272.
Including dividends, total future value: $294.46.
Discounted at 10% per
year over 5 years → Fair Value:
$182.
