Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.64B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.7%.
Starting with 2.64B and growing at -10.7%
for 5 years, we estimate Free Cash Flow will be
1.5B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 892.31M.
We will project this out 5 year(s) with a growth rate
of -1.68%.
Estimated Diluted Shares Outstanding: 819.83M.
Step 3: Project Future Stock Price
Using a price ratio of 8.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.5B ÷ 819.83M) × 8.36 =
$15
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.27.
Projected over 5 years with a growth rate of
4.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.053105725552526.
Step 5: Discount the Projected Stock Price
Projected stock price: $15.
Including dividends, total future value: $22.05.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
