Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.74B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 3.74B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
3.74B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 310.65M.
We will project this out 5 year(s) with a growth rate
of -4.86%.
Estimated Diluted Shares Outstanding: 242.15M.
Step 3: Project Future Stock Price
Using a price ratio of 3.57, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.74B ÷ 242.15M) × 3.57 =
$55
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.53.
Projected over 5 years with a growth rate of
-2.86%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.715228249030442.
Step 5: Discount the Projected Stock Price
Projected stock price: $55.
Including dividends, total future value: $80.72.
Discounted at 10% per
year over 5 years → Fair Value:
$50.
