Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
5.49B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.56%.
Starting with 5.49B and growing at 6.56%
for 5 years, we estimate Free Cash Flow will be
7.55B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.06B.
We will project this out 5 year(s) with a growth rate
of 0.06%.
Estimated Diluted Shares Outstanding: 1.06B.
Step 3: Project Future Stock Price
Using a price ratio of 40.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.55B ÷ 1.06B) × 40.5 =
$287
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.36.
Projected over 5 years with a growth rate of
40.23%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.834751338100817.
Step 5: Discount the Projected Stock Price
Projected stock price: $287.
Including dividends, total future value: $302.83.
Discounted at 10% per
year over 5 years → Fair Value:
$188.
