Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.86B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.55%.
Starting with 2.86B and growing at 10.55%
for 5 years, we estimate Free Cash Flow will be
4.73B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.65B.
We will project this out 5 year(s) with a growth rate
of 4.04%.
Estimated Diluted Shares Outstanding: 2.01B.
Step 3: Project Future Stock Price
Using a price ratio of 24.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.73B ÷ 2.01B) × 24.64 =
$57
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.66.
Projected over 5 years with a growth rate of
-5.68%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.851172017835078.
Step 5: Discount the Projected Stock Price
Projected stock price: $57.
Including dividends, total future value: $59.85.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
