Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
606M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-9.07%.
Starting with 606M and growing at -9.07%
for 5 years, we estimate Free Cash Flow will be
376.71M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 64.34M.
We will project this out 5 year(s) with a growth rate
of -3.05%.
Estimated Diluted Shares Outstanding: 55.11M.
Step 3: Project Future Stock Price
Using a price ratio of 65.04, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(376.71M ÷ 55.11M) × 65.04 =
$444
Step 4: Project Future Dividends Paid
Forward dividend per share: $8.63.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$43.150000000000006.
Step 5: Discount the Projected Stock Price
Projected stock price: $444.
Including dividends, total future value: $487.15.
Discounted at 10% per
year over 5 years → Fair Value:
$302.
