Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.56B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.34%.
Starting with 1.56B and growing at -1.34%
for 5 years, we estimate Free Cash Flow will be
1.46B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 456.56M.
We will project this out 5 year(s) with a growth rate
of 0.19%.
Estimated Diluted Shares Outstanding: 460.92M.
Step 3: Project Future Stock Price
Using a price ratio of 21.84, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.46B ÷ 460.92M) × 21.84 =
$69
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.14.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.7000000000000001.
Step 5: Discount the Projected Stock Price
Projected stock price: $69.
Including dividends, total future value: $69.7.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
