Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.42B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.74%.
Starting with 8.42B and growing at -6.74%
for 5 years, we estimate Free Cash Flow will be
5.94B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.07B.
We will project this out 5 year(s) with a growth rate
of -0.1%.
Estimated Diluted Shares Outstanding: 3.06B.
Step 3: Project Future Stock Price
Using a price ratio of 8.88, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.94B ÷ 3.06B) × 8.88 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.24.
Projected over 5 years with a growth rate of
-11.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.583751380193815.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $21.58.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
