Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.08B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.99%.
Starting with 1.08B and growing at 7.99%
for 5 years, we estimate Free Cash Flow will be
1.59B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 182.1M.
We will project this out 5 year(s) with a growth rate
of 0.24%.
Estimated Diluted Shares Outstanding: 184.3M.
Step 3: Project Future Stock Price
Using a price ratio of 70.69, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.59B ÷ 184.3M) × 70.69 =
$608
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.95.
Projected over 5 years with a growth rate of
4.12%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.254471105945025.
Step 5: Discount the Projected Stock Price
Projected stock price: $608.
Including dividends, total future value: $613.25.
Discounted at 10% per
year over 5 years → Fair Value:
$380.
