Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.23B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.19%.
Starting with 1.23B and growing at -0.19%
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 381.9M.
We will project this out 5 year(s) with a growth rate
of 0.23%.
Estimated Diluted Shares Outstanding: 386.31M.
Step 3: Project Future Stock Price
Using a price ratio of 22.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.22B ÷ 386.31M) × 22.52 =
$71
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.75.
Projected over 5 years with a growth rate of
2.69%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.693426430460601.
Step 5: Discount the Projected Stock Price
Projected stock price: $71.
Including dividends, total future value: $85.69.
Discounted at 10% per
year over 5 years → Fair Value:
$53.
