Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.09B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.14%.
Starting with 2.09B and growing at -0.14%
for 5 years, we estimate Free Cash Flow will be
2.08B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.22B.
We will project this out 5 year(s) with a growth rate
of -0.02%.
Estimated Diluted Shares Outstanding: 1.22B.
Step 3: Project Future Stock Price
Using a price ratio of 10.72, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.08B ÷ 1.22B) × 10.72 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $8.46.
Projected over 5 years with a growth rate of
5.08%, dividends add to total shareholder return.
Expected dividends in 5 years:
$47.8784991021404.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $65.88.
Discounted at 10% per
year over 5 years → Fair Value:
$40.
