Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.41B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.25%.
Starting with 1.41B and growing at -5.25%
for 5 years, we estimate Free Cash Flow will be
1.07B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 457M.
We will project this out 5 year(s) with a growth rate
of -10.16%.
Estimated Diluted Shares Outstanding: 267.46M.
Step 3: Project Future Stock Price
Using a price ratio of 16.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.07B ÷ 267.46M) × 16.81 =
$67
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.41.
Projected over 5 years with a growth rate of
6.33%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.219183029675575.
Step 5: Discount the Projected Stock Price
Projected stock price: $67.
Including dividends, total future value: $75.22.
Discounted at 10% per
year over 5 years → Fair Value:
$46.
