Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.14B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.37%.
Starting with 1.14B and growing at 23.37%
for 5 years, we estimate Free Cash Flow will be
3.26B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 663.52M.
We will project this out 5 year(s) with a growth rate
of -2.53%.
Estimated Diluted Shares Outstanding: 583.73M.
Step 3: Project Future Stock Price
Using a price ratio of 25.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.26B ÷ 583.73M) × 25.36 =
$141
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.3.
Projected over 5 years with a growth rate of
3.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6323472004636124.
Step 5: Discount the Projected Stock Price
Projected stock price: $141.
Including dividends, total future value: $142.63.
Discounted at 10% per
year over 5 years → Fair Value:
$88.
