Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.24B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.82%.
Starting with 1.24B and growing at 4.82%
for 5 years, we estimate Free Cash Flow will be
1.57B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 694.92M.
We will project this out 5 year(s) with a growth rate
of 6.68%.
Estimated Diluted Shares Outstanding: 960.18M.
Step 3: Project Future Stock Price
Using a price ratio of 16.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.57B ÷ 960.18M) × 16.26 =
$26
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.22.
Projected over 5 years with a growth rate of
-17.54%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.7665016426550375.
Step 5: Discount the Projected Stock Price
Projected stock price: $26.
Including dividends, total future value: $29.77.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
