Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.7B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.58%.
Starting with 2.7B and growing at 4.58%
for 5 years, we estimate Free Cash Flow will be
3.38B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 272.37M.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 272.37M.
Step 3: Project Future Stock Price
Using a price ratio of 2.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.38B ÷ 272.37M) × 2.21 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.88.
Projected over 5 years with a growth rate of
24.39%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.593051509397831.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $34.59.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
