Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.24B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.27%.
Starting with 3.24B and growing at 9.27%
for 5 years, we estimate Free Cash Flow will be
5.04B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 763.14M.
We will project this out 5 year(s) with a growth rate
of 12.28%.
Estimated Diluted Shares Outstanding: 1.36B.
Step 3: Project Future Stock Price
Using a price ratio of 19.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.04B ÷ 1.36B) × 19.01 =
$70
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.08.
Projected over 5 years with a growth rate of
10.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.935762046768808.
Step 5: Discount the Projected Stock Price
Projected stock price: $70.
Including dividends, total future value: $76.94.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
