Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.62B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.26%.
Starting with 2.62B and growing at 12.26%
for 5 years, we estimate Free Cash Flow will be
4.67B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.53B.
We will project this out 5 year(s) with a growth rate
of 0.23%.
Estimated Diluted Shares Outstanding: 9.64B.
Step 3: Project Future Stock Price
Using a price ratio of 6.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.67B ÷ 9.64B) × 6.28 =
$3
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.45.
Projected over 5 years with a growth rate of
2.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.389771858217608.
Step 5: Discount the Projected Stock Price
Projected stock price: $3.
Including dividends, total future value: $5.39.
Discounted at 10% per
year over 5 years → Fair Value:
$3.
