Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.47B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.68%.
Starting with 2.47B and growing at 10.68%
for 5 years, we estimate Free Cash Flow will be
4.1B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 432.29M.
We will project this out 5 year(s) with a growth rate
of 10.9%.
Estimated Diluted Shares Outstanding: 725.16M.
Step 3: Project Future Stock Price
Using a price ratio of 7.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.1B ÷ 725.16M) × 7.27 =
$41
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.08.
Projected over 5 years with a growth rate of
17.08%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.009410342157311.
Step 5: Discount the Projected Stock Price
Projected stock price: $41.
Including dividends, total future value: $49.01.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
