Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.06B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.91%.
Starting with 1.06B and growing at 5.91%
for 5 years, we estimate Free Cash Flow will be
1.41B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 107.38M.
We will project this out 5 year(s) with a growth rate
of -1.18%.
Estimated Diluted Shares Outstanding: 101.19M.
Step 3: Project Future Stock Price
Using a price ratio of 26.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.41B ÷ 101.19M) × 26.55 =
$371
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.29.
Projected over 5 years with a growth rate of
12.35%, dividends add to total shareholder return.
Expected dividends in 5 years:
$35.38819145990595.
Step 5: Discount the Projected Stock Price
Projected stock price: $371.
Including dividends, total future value: $406.39.
Discounted at 10% per
year over 5 years → Fair Value:
$252.
