Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
6.7B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.8%.
Starting with 6.7B and growing at 6.8%
for 5 years, we estimate Free Cash Flow will be
9.32B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.51B.
We will project this out 5 year(s) with a growth rate
of 2.69%.
Estimated Diluted Shares Outstanding: 1.72B.
Step 3: Project Future Stock Price
Using a price ratio of 7.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(9.32B ÷ 1.72B) × 7.27 =
$39
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.59.
Projected over 5 years with a growth rate of
23.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.977984961314223.
Step 5: Discount the Projected Stock Price
Projected stock price: $39.
Including dividends, total future value: $43.98.
Discounted at 10% per
year over 5 years → Fair Value:
$27.
