Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
978.59M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.17%.
Starting with 978.59M and growing at 17.17%
for 5 years, we estimate Free Cash Flow will be
2.16B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 677.2M.
We will project this out 5 year(s) with a growth rate
of 9.77%.
Estimated Diluted Shares Outstanding: 1.08B.
Step 3: Project Future Stock Price
Using a price ratio of 17.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.16B ÷ 1.08B) × 17.07 =
$34
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.24.
Projected over 5 years with a growth rate of
6.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.306647498585214.
Step 5: Discount the Projected Stock Price
Projected stock price: $34.
Including dividends, total future value: $41.31.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
