Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.5B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.16%.
Starting with 1.5B and growing at 6.16%
for 5 years, we estimate Free Cash Flow will be
2.02B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.31B.
We will project this out 5 year(s) with a growth rate
of 0.11%.
Estimated Diluted Shares Outstanding: 1.32B.
Step 3: Project Future Stock Price
Using a price ratio of 39.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.02B ÷ 1.32B) × 39.64 =
$60
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.55.
Projected over 5 years with a growth rate of
14.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.8477595464652476.
Step 5: Discount the Projected Stock Price
Projected stock price: $60.
Including dividends, total future value: $63.85.
Discounted at 10% per
year over 5 years → Fair Value:
$39.
