Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.22B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.1%.
Starting with 4.22B and growing at 21.1%
for 5 years, we estimate Free Cash Flow will be
11B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.92B.
We will project this out 5 year(s) with a growth rate
of -0.94%.
Estimated Diluted Shares Outstanding: 2.79B.
Step 3: Project Future Stock Price
Using a price ratio of 22.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(11B ÷ 2.79B) × 22.34 =
$88
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.61.
Projected over 5 years with a growth rate of
-1.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.9525871078124326.
Step 5: Discount the Projected Stock Price
Projected stock price: $88.
Including dividends, total future value: $90.95.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
