Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.09B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.32%.
Starting with 3.09B and growing at 6.32%
for 5 years, we estimate Free Cash Flow will be
4.2B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 744.14M.
We will project this out 5 year(s) with a growth rate
of 1.75%.
Estimated Diluted Shares Outstanding: 811.57M.
Step 3: Project Future Stock Price
Using a price ratio of 1.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.2B ÷ 811.57M) × 1.61 =
$8
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.59.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.9499999999999997.
Step 5: Discount the Projected Stock Price
Projected stock price: $8.
Including dividends, total future value: $10.95.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
