Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.38B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.77%.
Starting with 2.38B and growing at 23.77%
for 5 years, we estimate Free Cash Flow will be
6.91B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 21.19M.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 21.19M.
Step 3: Project Future Stock Price
Using a price ratio of 29.41, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(6.91B ÷ 21.19M) × 29.41 =
$9593
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.
Projected over 5 years with a growth rate of
-3.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$23.143099670241185.
Step 5: Discount the Projected Stock Price
Projected stock price: $9593.
Including dividends, total future value: $9616.14.
Discounted at 10% per
year over 5 years → Fair Value:
$5970.
