Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.4B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.7%.
Starting with 1.4B and growing at 6.7%
for 5 years, we estimate Free Cash Flow will be
1.94B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 216.39M.
We will project this out 5 year(s) with a growth rate
of 1.68%.
Estimated Diluted Shares Outstanding: 235.19M.
Step 3: Project Future Stock Price
Using a price ratio of 13.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.94B ÷ 235.19M) × 13.38 =
$110
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.61.
Projected over 5 years with a growth rate of
-8.21%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.4620012210644804.
Step 5: Discount the Projected Stock Price
Projected stock price: $110.
Including dividends, total future value: $112.46.
Discounted at 10% per
year over 5 years → Fair Value:
$69.
