Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
6.49B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 6.49B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
6.49B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 204.86M.
We will project this out 5 year(s) with a growth rate
of -1.09%.
Estimated Diluted Shares Outstanding: 193.93M.
Step 3: Project Future Stock Price
Using a price ratio of 11.71, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(6.49B ÷ 193.93M) × 11.71 =
$391
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.04.
Projected over 5 years with a growth rate of
14.89%, dividends add to total shareholder return.
Expected dividends in 5 years:
$42.72799523737972.
Step 5: Discount the Projected Stock Price
Projected stock price: $391.
Including dividends, total future value: $433.73.
Discounted at 10% per
year over 5 years → Fair Value:
$269.
