Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.74B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.03%.
Starting with 3.74B and growing at 6.03%
for 5 years, we estimate Free Cash Flow will be
5.01B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 468.25M.
We will project this out 5 year(s) with a growth rate
of 0.99%.
Estimated Diluted Shares Outstanding: 491.89M.
Step 3: Project Future Stock Price
Using a price ratio of 36.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.01B ÷ 491.89M) × 36.01 =
$367
Step 4: Project Future Dividends Paid
Forward dividend per share: $8.34.
Projected over 5 years with a growth rate of
2.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$44.247215607420664.
Step 5: Discount the Projected Stock Price
Projected stock price: $367.
Including dividends, total future value: $411.25.
Discounted at 10% per
year over 5 years → Fair Value:
$255.
