Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
7.22B
as of Dec 31, 2024.
We will project this out 5 years with a yearly growth
rate of
-1.44%.
Starting with 7.22B and growing at -1.44%
for 5 years, we estimate Free Cash Flow will be
6.71B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.27B.
We will project this out 5 year(s) with a growth rate
of 0.04%.
Estimated Diluted Shares Outstanding: 2.27B.
Step 3: Project Future Stock Price
Using a price ratio of 18.44, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(6.71B ÷ 2.27B) × 18.44 =
$54
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.97.
Projected over 5 years with a growth rate of
0.49%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.909631019140209.
Step 5: Discount the Projected Stock Price
Projected stock price: $54.
Including dividends, total future value: $58.91.
Discounted at 10% per
year over 5 years → Fair Value:
$36.
