Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.32B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.51%.
Starting with 1.32B and growing at 11.51%
for 5 years, we estimate Free Cash Flow will be
2.27B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 411.02M.
We will project this out 5 year(s) with a growth rate
of -0.34%.
Estimated Diluted Shares Outstanding: 404.08M.
Step 3: Project Future Stock Price
Using a price ratio of 30.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.27B ÷ 404.08M) × 30.21 =
$169
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
-12.66%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.8911339344924325.
Step 5: Discount the Projected Stock Price
Projected stock price: $169.
Including dividends, total future value: $169.89.
Discounted at 10% per
year over 5 years → Fair Value:
$105.
