Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.26B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.74%.
Starting with 8.26B and growing at -6.74%
for 5 years, we estimate Free Cash Flow will be
5.83B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.54B.
We will project this out 5 year(s) with a growth rate
of -0.06%.
Estimated Diluted Shares Outstanding: 1.53B.
Step 3: Project Future Stock Price
Using a price ratio of 7.62, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.83B ÷ 1.53B) × 7.62 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.59.
Projected over 5 years with a growth rate of
-10.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.747920411951963.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $37.75.
Discounted at 10% per
year over 5 years → Fair Value:
$23.
