Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
319.39M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.88%.
Starting with 319.39M and growing at 17.88%
for 5 years, we estimate Free Cash Flow will be
726.98M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 121.47M.
We will project this out 5 year(s) with a growth rate
of 8.52%.
Estimated Diluted Shares Outstanding: 182.82M.
Step 3: Project Future Stock Price
Using a price ratio of 11.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(726.98M ÷ 182.82M) × 11.89 =
$47
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.21.
Projected over 5 years with a growth rate of
0.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.092438976488484.
Step 5: Discount the Projected Stock Price
Projected stock price: $47.
Including dividends, total future value: $53.09.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
