Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.36B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
32.97%.
Starting with 1.36B and growing at 32.97%
for 5 years, we estimate Free Cash Flow will be
5.64B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 397.45M.
We will project this out 5 year(s) with a growth rate
of 14.28%.
Estimated Diluted Shares Outstanding: 774.71M.
Step 3: Project Future Stock Price
Using a price ratio of 29.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.64B ÷ 774.71M) × 29.15 =
$212
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.1.
Projected over 5 years with a growth rate of
-35.32%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.1682267413311954.
Step 5: Discount the Projected Stock Price
Projected stock price: $212.
Including dividends, total future value: $212.17.
Discounted at 10% per
year over 5 years → Fair Value:
$131.
