Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.1B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.43%.
Starting with 1.1B and growing at -4.43%
for 5 years, we estimate Free Cash Flow will be
877.26M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 437.26M.
We will project this out 5 year(s) with a growth rate
of 0.03%.
Estimated Diluted Shares Outstanding: 437.91M.
Step 3: Project Future Stock Price
Using a price ratio of 172.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(877.26M ÷ 437.91M) × 172.82 =
$346
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.04.
Projected over 5 years with a growth rate of
0.05%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.206502437703112.
Step 5: Discount the Projected Stock Price
Projected stock price: $346.
Including dividends, total future value: $351.21.
Discounted at 10% per
year over 5 years → Fair Value:
$218.
