Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
254.64M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.61%.
Starting with 254.64M and growing at 0.61%
for 5 years, we estimate Free Cash Flow will be
262.5M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 60.37M.
We will project this out 5 year(s) with a growth rate
of -1.07%.
Estimated Diluted Shares Outstanding: 57.21M.
Step 3: Project Future Stock Price
Using a price ratio of 15.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(262.5M ÷ 57.21M) × 15.14 =
$69
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.18.
Projected over 5 years with a growth rate of
-4.78%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.22002345592867.
Step 5: Discount the Projected Stock Price
Projected stock price: $69.
Including dividends, total future value: $74.22.
Discounted at 10% per
year over 5 years → Fair Value:
$46.
