Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.78B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-9.45%.
Starting with 4.78B and growing at -9.45%
for 5 years, we estimate Free Cash Flow will be
2.91B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.27B.
We will project this out 5 year(s) with a growth rate
of -0.67%.
Estimated Diluted Shares Outstanding: 1.23B.
Step 3: Project Future Stock Price
Using a price ratio of 10.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.91B ÷ 1.23B) × 10.82 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.66.
Projected over 5 years with a growth rate of
5.87%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.338536483587108.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $40.34.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
