Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
364M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.9%.
Starting with 364M and growing at 3.9%
for 5 years, we estimate Free Cash Flow will be
440.74M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 200.89M.
We will project this out 5 year(s) with a growth rate
of 0.1%.
Estimated Diluted Shares Outstanding: 201.89M.
Step 3: Project Future Stock Price
Using a price ratio of 36.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(440.74M ÷ 201.89M) × 36.96 =
$80
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.64.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.2.
Step 5: Discount the Projected Stock Price
Projected stock price: $80.
Including dividends, total future value: $83.2.
Discounted at 10% per
year over 5 years → Fair Value:
$51.
