Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.9B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.55%.
Starting with 4.9B and growing at 9.55%
for 5 years, we estimate Free Cash Flow will be
7.73B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.62B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 1.62B.
Step 3: Project Future Stock Price
Using a price ratio of 5.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.73B ÷ 1.62B) × 5.78 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.34.
Projected over 5 years with a growth rate of
35.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.660812220674264.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $30.66.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
