Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.39B
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
3.95%.
Starting with 1.39B and growing at 3.95%
for 5 years, we estimate Free Cash Flow will be
1.68B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 338.34M.
We will project this out 5 year(s) with a growth rate
of 0.74%.
Estimated Diluted Shares Outstanding: 351.04M.
Step 3: Project Future Stock Price
Using a price ratio of 19.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.68B ÷ 351.04M) × 19.94 =
$95
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.36.
Projected over 5 years with a growth rate of
-4.01%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6249405790432476.
Step 5: Discount the Projected Stock Price
Projected stock price: $95.
Including dividends, total future value: $96.62.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
