Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.97B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.02%.
Starting with 1.97B and growing at 12.02%
for 5 years, we estimate Free Cash Flow will be
3.48B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.5B.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 1.5B.
Step 3: Project Future Stock Price
Using a price ratio of 35.74, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.48B ÷ 1.5B) × 35.74 =
$82
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.95.
Projected over 5 years with a growth rate of
12.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.024486970128173.
Step 5: Discount the Projected Stock Price
Projected stock price: $82.
Including dividends, total future value: $95.02.
Discounted at 10% per
year over 5 years → Fair Value:
$58.
