Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
7.32B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.29%.
Starting with 7.32B and growing at -2.29%
for 5 years, we estimate Free Cash Flow will be
6.52B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 609.72M.
We will project this out 5 year(s) with a growth rate
of -0.11%.
Estimated Diluted Shares Outstanding: 606.37M.
Step 3: Project Future Stock Price
Using a price ratio of 0.73, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(6.52B ÷ 606.37M) × 0.73 =
$7
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.63.
Projected over 5 years with a growth rate of
4.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.5063380539707705.
Step 5: Discount the Projected Stock Price
Projected stock price: $7.
Including dividends, total future value: $10.51.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
