Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.04B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.69%.
Starting with 1.04B and growing at 6.69%
for 5 years, we estimate Free Cash Flow will be
1.44B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 283.01M.
We will project this out 5 year(s) with a growth rate
of 4.86%.
Estimated Diluted Shares Outstanding: 358.8M.
Step 3: Project Future Stock Price
Using a price ratio of 15.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.44B ÷ 358.8M) × 15.38 =
$61
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.84.
Projected over 5 years with a growth rate of
8.99%, dividends add to total shareholder return.
Expected dividends in 5 years:
$23.81046408089415.
Step 5: Discount the Projected Stock Price
Projected stock price: $61.
Including dividends, total future value: $84.81.
Discounted at 10% per
year over 5 years → Fair Value:
$52.
