Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.25B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
1.27%.
Starting with 1.25B and growing at 1.27%
for 5 years, we estimate Free Cash Flow will be
1.33B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.88B.
We will project this out 5 year(s) with a growth rate
of -1.48%.
Estimated Diluted Shares Outstanding: 3.6B.
Step 3: Project Future Stock Price
Using a price ratio of 10.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.33B ÷ 3.6B) × 10.85 =
$4
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.28.
Projected over 5 years with a growth rate of
7.54%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6790093554298646.
Step 5: Discount the Projected Stock Price
Projected stock price: $4.
Including dividends, total future value: $5.68.
Discounted at 10% per
year over 5 years → Fair Value:
$3.
