Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
665.62M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.56%.
Starting with 665.62M and growing at -5.56%
for 5 years, we estimate Free Cash Flow will be
500.04M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 75.93M.
We will project this out 5 year(s) with a growth rate
of -0.01%.
Estimated Diluted Shares Outstanding: 75.89M.
Step 3: Project Future Stock Price
Using a price ratio of 10.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(500.04M ÷ 75.89M) × 10.7 =
$70
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.99.
Projected over 5 years with a growth rate of
-0.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.749734882435956.
Step 5: Discount the Projected Stock Price
Projected stock price: $70.
Including dividends, total future value: $79.75.
Discounted at 10% per
year over 5 years → Fair Value:
$49.
