Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.38B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 2.38B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
2.38B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 705.24M.
We will project this out 5 year(s) with a growth rate
of -4.53%.
Estimated Diluted Shares Outstanding: 559.34M.
Step 3: Project Future Stock Price
Using a price ratio of 15.24, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.38B ÷ 559.34M) × 15.24 =
$64
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.94.
Projected over 5 years with a growth rate of
3.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.560948369648743.
Step 5: Discount the Projected Stock Price
Projected stock price: $64.
Including dividends, total future value: $74.56.
Discounted at 10% per
year over 5 years → Fair Value:
$46.
