Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
660.38M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 660.38M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
660.38M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 367.14M.
We will project this out 5 year(s) with a growth rate
of 2.4%.
Estimated Diluted Shares Outstanding: 413.36M.
Step 3: Project Future Stock Price
Using a price ratio of 58.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(660.38M ÷ 413.36M) × 58.09 =
$92
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.4.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.392648531026612.
Step 5: Discount the Projected Stock Price
Projected stock price: $92.
Including dividends, total future value: $102.39.
Discounted at 10% per
year over 5 years → Fair Value:
$63.
