Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.11B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 4.11B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
4.11B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 480.46M.
We will project this out 5 year(s) with a growth rate
of -2.69%.
Estimated Diluted Shares Outstanding: 419.23M.
Step 3: Project Future Stock Price
Using a price ratio of 27.35, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.11B ÷ 419.23M) × 27.35 =
$268
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.53.
Projected over 5 years with a growth rate of
1.22%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.039362466117119.
Step 5: Discount the Projected Stock Price
Projected stock price: $268.
Including dividends, total future value: $281.04.
Discounted at 10% per
year over 5 years → Fair Value:
$174.
