Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.12B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.13%.
Starting with 1.12B and growing at -3.13%
for 5 years, we estimate Free Cash Flow will be
957.15M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 50.46M.
We will project this out 5 year(s) with a growth rate
of -3.34%.
Estimated Diluted Shares Outstanding: 42.58M.
Step 3: Project Future Stock Price
Using a price ratio of 8.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(957.15M ÷ 42.58M) × 8.01 =
$180
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.92.
Projected over 5 years with a growth rate of
-1.21%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.012469700217146.
Step 5: Discount the Projected Stock Price
Projected stock price: $180.
Including dividends, total future value: $199.01.
Discounted at 10% per
year over 5 years → Fair Value:
$123.
