Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.26B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.97%.
Starting with 1.26B and growing at 0.97%
for 5 years, we estimate Free Cash Flow will be
1.32B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 83.1M.
We will project this out 5 year(s) with a growth rate
of -3.06%.
Estimated Diluted Shares Outstanding: 71.14M.
Step 3: Project Future Stock Price
Using a price ratio of 14.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.32B ÷ 71.14M) × 14.75 =
$274
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.6.
Projected over 5 years with a growth rate of
3.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.68298746448901.
Step 5: Discount the Projected Stock Price
Projected stock price: $274.
Including dividends, total future value: $293.68.
Discounted at 10% per
year over 5 years → Fair Value:
$182.
