Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.78B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.53%.
Starting with 1.78B and growing at 5.53%
for 5 years, we estimate Free Cash Flow will be
2.33B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.17B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 2.17B.
Step 3: Project Future Stock Price
Using a price ratio of 33.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.33B ÷ 2.17B) × 33.94 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.97.
Projected over 5 years with a growth rate of
11.99%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.437093986648479.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $42.44.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
