Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.93B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.29%.
Starting with 4.93B and growing at -3.29%
for 5 years, we estimate Free Cash Flow will be
4.17B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 222.77M.
We will project this out 5 year(s) with a growth rate
of -4.24%.
Estimated Diluted Shares Outstanding: 179.38M.
Step 3: Project Future Stock Price
Using a price ratio of 5.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.17B ÷ 179.38M) × 5.3 =
$123
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.74.
Projected over 5 years with a growth rate of
0.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.906379307520574.
Step 5: Discount the Projected Stock Price
Projected stock price: $123.
Including dividends, total future value: $141.91.
Discounted at 10% per
year over 5 years → Fair Value:
$88.
