Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.56B
as of Dec 31, 2024.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 3.56B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
3.56B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.3B.
We will project this out 5 year(s) with a growth rate
of 1.01%.
Estimated Diluted Shares Outstanding: 1.37B.
Step 3: Project Future Stock Price
Using a price ratio of 22.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.56B ÷ 1.37B) × 22.3 =
$57
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.62.
Projected over 5 years with a growth rate of
-4.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.75642660746286.
Step 5: Discount the Projected Stock Price
Projected stock price: $57.
Including dividends, total future value: $59.76.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
