Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.7B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
3.07%.
Starting with 1.7B and growing at 3.07%
for 5 years, we estimate Free Cash Flow will be
1.98B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.72B.
We will project this out 5 year(s) with a growth rate
of -0.08%.
Estimated Diluted Shares Outstanding: 1.71B.
Step 3: Project Future Stock Price
Using a price ratio of 107.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.98B ÷ 1.71B) × 107.86 =
$124
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.55.
Projected over 5 years with a growth rate of
2.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.922258110658122.
Step 5: Discount the Projected Stock Price
Projected stock price: $124.
Including dividends, total future value: $126.92.
Discounted at 10% per
year over 5 years → Fair Value:
$78.
