Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.32B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.72%.
Starting with 2.32B and growing at 10.72%
for 5 years, we estimate Free Cash Flow will be
3.86B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 107.61M.
We will project this out 5 year(s) with a growth rate
of 0.55%.
Estimated Diluted Shares Outstanding: 110.61M.
Step 3: Project Future Stock Price
Using a price ratio of 34.37, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.86B ÷ 110.61M) × 34.37 =
$1200
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.05.
Projected over 5 years with a growth rate of
9.99%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.692598646229474.
Step 5: Discount the Projected Stock Price
Projected stock price: $1200.
Including dividends, total future value: $1225.69.
Discounted at 10% per
year over 5 years → Fair Value:
$761.
