Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.54B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.02%.
Starting with 1.54B and growing at 26.02%
for 5 years, we estimate Free Cash Flow will be
4.9B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.09B.
We will project this out 5 year(s) with a growth rate
of 5.18%.
Estimated Diluted Shares Outstanding: 1.4B.
Step 3: Project Future Stock Price
Using a price ratio of 61.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.9B ÷ 1.4B) × 61.49 =
$214
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.68.
Projected over 5 years with a growth rate of
-0.22%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.35387620204131.
Step 5: Discount the Projected Stock Price
Projected stock price: $214.
Including dividends, total future value: $222.35.
Discounted at 10% per
year over 5 years → Fair Value:
$138.
