Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.35B
as of Apr 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.67%.
Starting with 1.35B and growing at -0.67%
for 5 years, we estimate Free Cash Flow will be
1.31B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 230.91M.
We will project this out 5 year(s) with a growth rate
of -2.54%.
Estimated Diluted Shares Outstanding: 203.04M.
Step 3: Project Future Stock Price
Using a price ratio of 6.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.31B ÷ 203.04M) × 6.14 =
$39
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.75.
Projected over 5 years with a growth rate of
10.07%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.766544851302243.
Step 5: Discount the Projected Stock Price
Projected stock price: $39.
Including dividends, total future value: $43.77.
Discounted at 10% per
year over 5 years → Fair Value:
$27.
