Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
344M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.8%.
Starting with 344M and growing at 2.8%
for 5 years, we estimate Free Cash Flow will be
394.93M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 71.91M.
We will project this out 5 year(s) with a growth rate
of -0.46%.
Estimated Diluted Shares Outstanding: 70.27M.
Step 3: Project Future Stock Price
Using a price ratio of 68.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(394.93M ÷ 70.27M) × 68.61 =
$385
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.06.
Projected over 5 years with a growth rate of
5.51%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.0605205363082515.
Step 5: Discount the Projected Stock Price
Projected stock price: $385.
Including dividends, total future value: $391.06.
Discounted at 10% per
year over 5 years → Fair Value:
$242.
