Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.48B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.32%.
Starting with 1.48B and growing at 9.32%
for 5 years, we estimate Free Cash Flow will be
2.32B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 178.22M.
We will project this out 5 year(s) with a growth rate
of -0.82%.
Estimated Diluted Shares Outstanding: 171.03M.
Step 3: Project Future Stock Price
Using a price ratio of 119.04, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.32B ÷ 171.03M) × 119.04 =
$1611
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.04.
Projected over 5 years with a growth rate of
22.85%, dividends add to total shareholder return.
Expected dividends in 5 years:
$50.5178483659939.
Step 5: Discount the Projected Stock Price
Projected stock price: $1611.
Including dividends, total future value: $1661.52.
Discounted at 10% per
year over 5 years → Fair Value:
$1031.
