Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.43B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.95%.
Starting with 3.43B and growing at 26.95%
for 5 years, we estimate Free Cash Flow will be
11.32B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 379.29M.
We will project this out 5 year(s) with a growth rate
of -1.52%.
Estimated Diluted Shares Outstanding: 351.33M.
Step 3: Project Future Stock Price
Using a price ratio of 7.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(11.32B ÷ 351.33M) × 7.53 =
$242
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.67.
Projected over 5 years with a growth rate of
29.47%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.926096595204399.
Step 5: Discount the Projected Stock Price
Projected stock price: $242.
Including dividends, total future value: $257.93.
Discounted at 10% per
year over 5 years → Fair Value:
$160.
