Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.1B
as of Jul 27, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 4.1B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
4.1B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 270.33M.
We will project this out 5 year(s) with a growth rate
of -2.87%.
Estimated Diluted Shares Outstanding: 233.7M.
Step 3: Project Future Stock Price
Using a price ratio of 44.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.1B ÷ 233.7M) × 44.78 =
$785
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.95.
Projected over 5 years with a growth rate of
9.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$50.26184697152614.
Step 5: Discount the Projected Stock Price
Projected stock price: $785.
Including dividends, total future value: $835.26.
Discounted at 10% per
year over 5 years → Fair Value:
$518.
