Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.66B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.17%.
Starting with 4.66B and growing at 5.17%
for 5 years, we estimate Free Cash Flow will be
5.99B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.49B.
We will project this out 5 year(s) with a growth rate
of 0.73%.
Estimated Diluted Shares Outstanding: 1.55B.
Step 3: Project Future Stock Price
Using a price ratio of 19.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.99B ÷ 1.55B) × 19.45 =
$75
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.4.
Projected over 5 years with a growth rate of
-0.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.9197775119549.
Step 5: Discount the Projected Stock Price
Projected stock price: $75.
Including dividends, total future value: $81.92.
Discounted at 10% per
year over 5 years → Fair Value:
$50.
