Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
907.64M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.94%.
Starting with 907.64M and growing at 1.94%
for 5 years, we estimate Free Cash Flow will be
999.16M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 240.62M.
We will project this out 5 year(s) with a growth rate
of 6.18%.
Estimated Diluted Shares Outstanding: 324.75M.
Step 3: Project Future Stock Price
Using a price ratio of 26.69, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(999.16M ÷ 324.75M) × 26.69 =
$82
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $82.
Including dividends, total future value: $82.
Discounted at 10% per
year over 5 years → Fair Value:
$50.
