Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.49B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 1.49B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
1.49B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 511.05M.
We will project this out 5 year(s) with a growth rate
of 3.74%.
Estimated Diluted Shares Outstanding: 614.03M.
Step 3: Project Future Stock Price
Using a price ratio of 4.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.49B ÷ 614.03M) × 4.49 =
$10
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.98.
Projected over 5 years with a growth rate of
-5.27%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.646772603411284.
Step 5: Discount the Projected Stock Price
Projected stock price: $10.
Including dividends, total future value: $18.65.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
