Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.22B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 1.22B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
1.22B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 299.54M.
We will project this out 5 year(s) with a growth rate
of -8.03%.
Estimated Diluted Shares Outstanding: 197.1M.
Step 3: Project Future Stock Price
Using a price ratio of 39.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.22B ÷ 197.1M) × 39.96 =
$247
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.26.
Projected over 5 years with a growth rate of
3.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.849232304193746.
Step 5: Discount the Projected Stock Price
Projected stock price: $247.
Including dividends, total future value: $253.85.
Discounted at 10% per
year over 5 years → Fair Value:
$157.
