Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.16B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.87%.
Starting with 4.16B and growing at 4.87%
for 5 years, we estimate Free Cash Flow will be
5.27B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.55B.
We will project this out 5 year(s) with a growth rate
of -2.11%.
Estimated Diluted Shares Outstanding: 1.39B.
Step 3: Project Future Stock Price
Using a price ratio of 21.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.27B ÷ 1.39B) × 21.59 =
$81
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.37.
Projected over 5 years with a growth rate of
11.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.587682251655208.
Step 5: Discount the Projected Stock Price
Projected stock price: $81.
Including dividends, total future value: $96.59.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
