Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.63B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.35%.
Starting with 1.63B and growing at 12.35%
for 5 years, we estimate Free Cash Flow will be
2.91B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 270.96M.
We will project this out 5 year(s) with a growth rate
of 1.45%.
Estimated Diluted Shares Outstanding: 291.19M.
Step 3: Project Future Stock Price
Using a price ratio of 29.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.91B ÷ 291.19M) × 29.52 =
$295
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.72.
Projected over 5 years with a growth rate of
22.03%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.372032241918895.
Step 5: Discount the Projected Stock Price
Projected stock price: $295.
Including dividends, total future value: $317.37.
Discounted at 10% per
year over 5 years → Fair Value:
$197.
