Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.13B
as of Dec 31, 2024.
We will project this out 5 years with a yearly growth
rate of
5.1%.
Starting with 1.13B and growing at 5.1%
for 5 years, we estimate Free Cash Flow will be
1.45B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.07B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 1.07B.
Step 3: Project Future Stock Price
Using a price ratio of 17.37, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.45B ÷ 1.07B) × 17.37 =
$23
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.35.
Projected over 5 years with a growth rate of
-0.72%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.7186698956958941.
Step 5: Discount the Projected Stock Price
Projected stock price: $23.
Including dividends, total future value: $24.72.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
