Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.82B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.23%.
Starting with 2.82B and growing at 12.23%
for 5 years, we estimate Free Cash Flow will be
5.02B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.22B.
We will project this out 5 year(s) with a growth rate
of 0.51%.
Estimated Diluted Shares Outstanding: 1.25B.
Step 3: Project Future Stock Price
Using a price ratio of 33.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.02B ÷ 1.25B) × 33.39 =
$133
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.83.
Projected over 5 years with a growth rate of
13.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.72573384620605.
Step 5: Discount the Projected Stock Price
Projected stock price: $133.
Including dividends, total future value: $138.73.
Discounted at 10% per
year over 5 years → Fair Value:
$86.
