Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.32B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-9.44%.
Starting with 1.32B and growing at -9.44%
for 5 years, we estimate Free Cash Flow will be
804.24M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 112.43M.
We will project this out 5 year(s) with a growth rate
of -0.82%.
Estimated Diluted Shares Outstanding: 107.9M.
Step 3: Project Future Stock Price
Using a price ratio of 35.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(804.24M ÷ 107.9M) × 35.39 =
$263
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.24.
Projected over 5 years with a growth rate of
-0.99%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.55635678706652.
Step 5: Discount the Projected Stock Price
Projected stock price: $263.
Including dividends, total future value: $288.56.
Discounted at 10% per
year over 5 years → Fair Value:
$179.
