Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.15B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
10.52%.
Starting with 1.15B and growing at 10.52%
for 5 years, we estimate Free Cash Flow will be
1.89B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 158.38M.
We will project this out 5 year(s) with a growth rate
of 0.37%.
Estimated Diluted Shares Outstanding: 161.33M.
Step 3: Project Future Stock Price
Using a price ratio of 13.57, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.89B ÷ 161.33M) × 13.57 =
$159
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.62.
Projected over 5 years with a growth rate of
-7.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.029865457359318.
Step 5: Discount the Projected Stock Price
Projected stock price: $159.
Including dividends, total future value: $178.03.
Discounted at 10% per
year over 5 years → Fair Value:
$110.
