Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.6B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
19.49%.
Starting with 1.6B and growing at 19.49%
for 5 years, we estimate Free Cash Flow will be
3.91B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.36B.
We will project this out 5 year(s) with a growth rate
of -2.2%.
Estimated Diluted Shares Outstanding: 1.22B.
Step 3: Project Future Stock Price
Using a price ratio of 15.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.91B ÷ 1.22B) × 15.5 =
$49
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.64.
Projected over 5 years with a growth rate of
16.18%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.6556294707895916.
Step 5: Discount the Projected Stock Price
Projected stock price: $49.
Including dividends, total future value: $53.66.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
