Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.02B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.86%.
Starting with 1.02B and growing at 7.86%
for 5 years, we estimate Free Cash Flow will be
1.49B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 131.06M.
We will project this out 5 year(s) with a growth rate
of -1.77%.
Estimated Diluted Shares Outstanding: 119.87M.
Step 3: Project Future Stock Price
Using a price ratio of 22.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.49B ÷ 119.87M) × 22.98 =
$285
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.12.
Projected over 5 years with a growth rate of
4.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.215384300881766.
Step 5: Discount the Projected Stock Price
Projected stock price: $285.
Including dividends, total future value: $302.22.
Discounted at 10% per
year over 5 years → Fair Value:
$187.
