Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.38B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
5.15%.
Starting with 1.38B and growing at 5.15%
for 5 years, we estimate Free Cash Flow will be
1.77B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.93B.
We will project this out 5 year(s) with a growth rate
of -0.04%.
Estimated Diluted Shares Outstanding: 1.93B.
Step 3: Project Future Stock Price
Using a price ratio of 31.72, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.77B ÷ 1.93B) × 31.72 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.69.
Projected over 5 years with a growth rate of
4.63%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.8633108908002116.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $32.86.
Discounted at 10% per
year over 5 years → Fair Value:
$20.
