Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.08B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-11.68%.
Starting with 2.08B and growing at -11.68%
for 5 years, we estimate Free Cash Flow will be
1.12B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 352M.
We will project this out 5 year(s) with a growth rate
of -2.65%.
Estimated Diluted Shares Outstanding: 307.77M.
Step 3: Project Future Stock Price
Using a price ratio of 7.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.12B ÷ 307.77M) × 7.14 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.65.
Projected over 5 years with a growth rate of
-1.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$31.903472048113.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $56.9.
Discounted at 10% per
year over 5 years → Fair Value:
$35.
