Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.59B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.72%.
Starting with 1.59B and growing at -4.72%
for 5 years, we estimate Free Cash Flow will be
1.25B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.36B.
We will project this out 5 year(s) with a growth rate
of -0.73%.
Estimated Diluted Shares Outstanding: 1.31B.
Step 3: Project Future Stock Price
Using a price ratio of 29.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.25B ÷ 1.31B) × 29.15 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.15.
Projected over 5 years with a growth rate of
8.92%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.119293972582349.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $34.12.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
