Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.44B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.23%.
Starting with 1.44B and growing at 14.23%
for 5 years, we estimate Free Cash Flow will be
2.81B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 137.82M.
We will project this out 5 year(s) with a growth rate
of -0.87%.
Estimated Diluted Shares Outstanding: 131.93M.
Step 3: Project Future Stock Price
Using a price ratio of 8.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.81B ÷ 131.93M) × 8.25 =
$175
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.35.
Projected over 5 years with a growth rate of
10.35%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.030336730059126.
Step 5: Discount the Projected Stock Price
Projected stock price: $175.
Including dividends, total future value: $190.03.
Discounted at 10% per
year over 5 years → Fair Value:
$117.
