Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.74B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-13.74%.
Starting with 1.74B and growing at -13.74%
for 5 years, we estimate Free Cash Flow will be
829.56M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 83.39M.
We will project this out 5 year(s) with a growth rate
of -1.61%.
Estimated Diluted Shares Outstanding: 76.89M.
Step 3: Project Future Stock Price
Using a price ratio of 7.43, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(829.56M ÷ 76.89M) × 7.43 =
$80
Step 4: Project Future Dividends Paid
Forward dividend per share: $9.91.
Projected over 5 years with a growth rate of
2.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$52.97555092144625.
Step 5: Discount the Projected Stock Price
Projected stock price: $80.
Including dividends, total future value: $132.98.
Discounted at 10% per
year over 5 years → Fair Value:
$82.
