Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.18B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.59%.
Starting with 1.18B and growing at 17.59%
for 5 years, we estimate Free Cash Flow will be
2.65B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 573.47M.
We will project this out 5 year(s) with a growth rate
of 1.91%.
Estimated Diluted Shares Outstanding: 630.37M.
Step 3: Project Future Stock Price
Using a price ratio of 20.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.65B ÷ 630.37M) × 20.33 =
$85
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.83.
Projected over 5 years with a growth rate of
26.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.504683024953915.
Step 5: Discount the Projected Stock Price
Projected stock price: $85.
Including dividends, total future value: $92.5.
Discounted at 10% per
year over 5 years → Fair Value:
$57.
