Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
16.48B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-7.9%.
Starting with 16.48B and growing at -7.9%
for 5 years, we estimate Free Cash Flow will be
10.92B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 205.9M.
We will project this out 5 year(s) with a growth rate
of -0.25%.
Estimated Diluted Shares Outstanding: 203.34M.
Step 3: Project Future Stock Price
Using a price ratio of 5.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(10.92B ÷ 203.34M) × 5.22 =
$280
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.56.
Projected over 5 years with a growth rate of
26.39%, dividends add to total shareholder return.
Expected dividends in 5 years:
$58.90547038006106.
Step 5: Discount the Projected Stock Price
Projected stock price: $280.
Including dividends, total future value: $338.91.
Discounted at 10% per
year over 5 years → Fair Value:
$210.
