Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.88B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 2.88B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
2.88B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 629.76M.
We will project this out 5 year(s) with a growth rate
of 7.14%.
Estimated Diluted Shares Outstanding: 889.06M.
Step 3: Project Future Stock Price
Using a price ratio of 12.69, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.88B ÷ 889.06M) × 12.69 =
$41
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.07.
Projected over 5 years with a growth rate of
-3.75%, dividends add to total shareholder return.
Expected dividends in 5 years:
$23.039858584577523.
Step 5: Discount the Projected Stock Price
Projected stock price: $41.
Including dividends, total future value: $64.04.
Discounted at 10% per
year over 5 years → Fair Value:
$39.
