Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.5B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-23.72%.
Starting with 1.5B and growing at -23.72%
for 5 years, we estimate Free Cash Flow will be
388.16M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 909.14M.
We will project this out 5 year(s) with a growth rate
of -0.7%.
Estimated Diluted Shares Outstanding: 877.76M.
Step 3: Project Future Stock Price
Using a price ratio of 65.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(388.16M ÷ 877.76M) × 65.86 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.86.
Projected over 5 years with a growth rate of
8.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$41.70226344529172.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $70.7.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
