Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.9B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.82%.
Starting with 2.9B and growing at 4.82%
for 5 years, we estimate Free Cash Flow will be
3.67B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.11B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 2.11B.
Step 3: Project Future Stock Price
Using a price ratio of 27.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.67B ÷ 2.11B) × 27.89 =
$48
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.74.
Projected over 5 years with a growth rate of
-3.09%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.4207647478028775.
Step 5: Discount the Projected Stock Price
Projected stock price: $48.
Including dividends, total future value: $51.42.
Discounted at 10% per
year over 5 years → Fair Value:
$31.
