Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.67B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-9.42%.
Starting with 4.67B and growing at -9.42%
for 5 years, we estimate Free Cash Flow will be
2.85B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 4.03B.
We will project this out 5 year(s) with a growth rate
of 0.64%.
Estimated Diluted Shares Outstanding: 4.16B.
Step 3: Project Future Stock Price
Using a price ratio of 18.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.85B ÷ 4.16B) × 18.85 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.01.
Projected over 5 years with a growth rate of
-13.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.535609919440442.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $15.54.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
