Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.34B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-14.9%.
Starting with 1.34B and growing at -14.9%
for 5 years, we estimate Free Cash Flow will be
598.52M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 128.53M.
We will project this out 5 year(s) with a growth rate
of -2.36%.
Estimated Diluted Shares Outstanding: 114.06M.
Step 3: Project Future Stock Price
Using a price ratio of 17.57, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(598.52M ÷ 114.06M) × 17.57 =
$92
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.84.
Projected over 5 years with a growth rate of
-4.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.566745074944233.
Step 5: Discount the Projected Stock Price
Projected stock price: $92.
Including dividends, total future value: $104.57.
Discounted at 10% per
year over 5 years → Fair Value:
$64.
