Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
197.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.19%.
Starting with 197.5M and growing at 30.19%
for 5 years, we estimate Free Cash Flow will be
738.68M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 34.53M.
We will project this out 5 year(s) with a growth rate
of 0.57%.
Estimated Diluted Shares Outstanding: 35.53M.
Step 3: Project Future Stock Price
Using a price ratio of 11.65, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(738.68M ÷ 35.53M) × 11.65 =
$242
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.25.
Projected over 5 years with a growth rate of
-3.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.304649342521921.
Step 5: Discount the Projected Stock Price
Projected stock price: $242.
Including dividends, total future value: $252.3.
Discounted at 10% per
year over 5 years → Fair Value:
$156.
