Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
273.22M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.2%.
Starting with 273.22M and growing at 1.2%
for 5 years, we estimate Free Cash Flow will be
290.02M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 70.79M.
We will project this out 5 year(s) with a growth rate
of -0.16%.
Estimated Diluted Shares Outstanding: 70.22M.
Step 3: Project Future Stock Price
Using a price ratio of 27.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(290.02M ÷ 70.22M) × 27.36 =
$112
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.55.
Projected over 5 years with a growth rate of
28.88%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.613879467115693.
Step 5: Discount the Projected Stock Price
Projected stock price: $112.
Including dividends, total future value: $126.61.
Discounted at 10% per
year over 5 years → Fair Value:
$78.
