Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.44B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.16%.
Starting with 2.44B and growing at 7.16%
for 5 years, we estimate Free Cash Flow will be
3.45B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 270.67M.
We will project this out 5 year(s) with a growth rate
of 0.02%.
Estimated Diluted Shares Outstanding: 270.94M.
Step 3: Project Future Stock Price
Using a price ratio of 5.72, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.45B ÷ 270.94M) × 5.72 =
$72
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.82.
Projected over 5 years with a growth rate of
-0.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.824253567079456.
Step 5: Discount the Projected Stock Price
Projected stock price: $72.
Including dividends, total future value: $90.82.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
