Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
623.97M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 623.97M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
623.97M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 856.1M.
We will project this out 5 year(s) with a growth rate
of 1.03%.
Estimated Diluted Shares Outstanding: 901.11M.
Step 3: Project Future Stock Price
Using a price ratio of 120.92, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(623.97M ÷ 901.11M) × 120.92 =
$83
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.19.
Projected over 5 years with a growth rate of
0.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.9669523989732274.
Step 5: Discount the Projected Stock Price
Projected stock price: $83.
Including dividends, total future value: $83.97.
Discounted at 10% per
year over 5 years → Fair Value:
$52.
