Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.22B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.72%.
Starting with 3.22B and growing at 9.72%
for 5 years, we estimate Free Cash Flow will be
5.11B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.03B.
We will project this out 5 year(s) with a growth rate
of -0.67%.
Estimated Diluted Shares Outstanding: 992.62M.
Step 3: Project Future Stock Price
Using a price ratio of 25.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.11B ÷ 992.62M) × 25.93 =
$133
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.33.
Projected over 5 years with a growth rate of
39.93%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.40276646108813.
Step 5: Discount the Projected Stock Price
Projected stock price: $133.
Including dividends, total future value: $148.4.
Discounted at 10% per
year over 5 years → Fair Value:
$92.
