Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.67B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.07%.
Starting with 3.67B and growing at 4.07%
for 5 years, we estimate Free Cash Flow will be
4.49B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.77B.
We will project this out 5 year(s) with a growth rate
of -1.47%.
Estimated Diluted Shares Outstanding: 2.57B.
Step 3: Project Future Stock Price
Using a price ratio of 10.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.49B ÷ 2.57B) × 10.25 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $10.68.
Projected over 5 years with a growth rate of
91.66%, dividends add to total shareholder return.
Expected dividends in 5 years:
$271.5626053188148.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $288.56.
Discounted at 10% per
year over 5 years → Fair Value:
$179.
