Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.15B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
22.57%.
Starting with 1.15B and growing at 22.57%
for 5 years, we estimate Free Cash Flow will be
3.17B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.83B.
We will project this out 5 year(s) with a growth rate
of 0.03%.
Estimated Diluted Shares Outstanding: 1.84B.
Step 3: Project Future Stock Price
Using a price ratio of 28.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.17B ÷ 1.84B) × 28.5 =
$49
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.87.
Projected over 5 years with a growth rate of
7.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.220561046232542.
Step 5: Discount the Projected Stock Price
Projected stock price: $49.
Including dividends, total future value: $54.22.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
