Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
981.47M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.31%.
Starting with 981.47M and growing at 26.31%
for 5 years, we estimate Free Cash Flow will be
3.16B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 218.45M.
We will project this out 5 year(s) with a growth rate
of 6.54%.
Estimated Diluted Shares Outstanding: 299.86M.
Step 3: Project Future Stock Price
Using a price ratio of 31.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.16B ÷ 299.86M) × 31.45 =
$330
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.56.
Projected over 5 years with a growth rate of
2.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.969585571267676.
Step 5: Discount the Projected Stock Price
Projected stock price: $330.
Including dividends, total future value: $332.97.
Discounted at 10% per
year over 5 years → Fair Value:
$206.
