Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.15B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-16.45%.
Starting with 1.15B and growing at -16.45%
for 5 years, we estimate Free Cash Flow will be
466.37M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 119.15M.
We will project this out 5 year(s) with a growth rate
of -1.14%.
Estimated Diluted Shares Outstanding: 112.51M.
Step 3: Project Future Stock Price
Using a price ratio of 24.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(466.37M ÷ 112.51M) × 24.07 =
$99
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.41.
Projected over 5 years with a growth rate of
-9.62%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.474821441859725.
Step 5: Discount the Projected Stock Price
Projected stock price: $99.
Including dividends, total future value: $104.47.
Discounted at 10% per
year over 5 years → Fair Value:
$64.
