Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.26B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.53%.
Starting with 1.26B and growing at 12.53%
for 5 years, we estimate Free Cash Flow will be
2.28B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 329.84M.
We will project this out 5 year(s) with a growth rate
of 0.67%.
Estimated Diluted Shares Outstanding: 341.04M.
Step 3: Project Future Stock Price
Using a price ratio of 22.9, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.28B ÷ 341.04M) × 22.9 =
$153
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
5.31%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.4142497528176943.
Step 5: Discount the Projected Stock Price
Projected stock price: $153.
Including dividends, total future value: $156.41.
Discounted at 10% per
year over 5 years → Fair Value:
$97.
