Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.59B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.99%.
Starting with 1.59B and growing at 7.99%
for 5 years, we estimate Free Cash Flow will be
2.33B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 765.34M.
We will project this out 5 year(s) with a growth rate
of 5.21%.
Estimated Diluted Shares Outstanding: 986.59M.
Step 3: Project Future Stock Price
Using a price ratio of 7.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.33B ÷ 986.59M) × 7.34 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.28.
Projected over 5 years with a growth rate of
3.34%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.5198445787359207.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $18.52.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
