Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.32B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.86%.
Starting with 1.32B and growing at -0.86%
for 5 years, we estimate Free Cash Flow will be
1.26B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 219.72M.
We will project this out 5 year(s) with a growth rate
of -1.32%.
Estimated Diluted Shares Outstanding: 205.59M.
Step 3: Project Future Stock Price
Using a price ratio of 17.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.26B ÷ 205.59M) × 17.82 =
$109
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.05.
Projected over 5 years with a growth rate of
1.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.975789467456146.
Step 5: Discount the Projected Stock Price
Projected stock price: $109.
Including dividends, total future value: $134.98.
Discounted at 10% per
year over 5 years → Fair Value:
$83.
