Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.16B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 3.16B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
3.16B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 554M.
We will project this out 5 year(s) with a growth rate
of -5.87%.
Estimated Diluted Shares Outstanding: 409.4M.
Step 3: Project Future Stock Price
Using a price ratio of 13.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.16B ÷ 409.4M) × 13.45 =
$103
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.1.
Projected over 5 years with a growth rate of
0.31%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.581564294588878.
Step 5: Discount the Projected Stock Price
Projected stock price: $103.
Including dividends, total future value: $113.58.
Discounted at 10% per
year over 5 years → Fair Value:
$70.
