Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.62B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 2.62B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
2.62B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 388.13M.
We will project this out 5 year(s) with a growth rate
of -1.73%.
Estimated Diluted Shares Outstanding: 355.7M.
Step 3: Project Future Stock Price
Using a price ratio of 2.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.62B ÷ 355.7M) × 2.42 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.33.
Projected over 5 years with a growth rate of
13.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$43.75377750128346.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $60.75.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
