Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.94B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.65%.
Starting with 1.94B and growing at 2.65%
for 5 years, we estimate Free Cash Flow will be
2.21B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.46B.
We will project this out 5 year(s) with a growth rate
of 6.93%.
Estimated Diluted Shares Outstanding: 2.04B.
Step 3: Project Future Stock Price
Using a price ratio of 11.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.21B ÷ 2.04B) × 11.01 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.78.
Projected over 5 years with a growth rate of
-4.97%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.4333369714873623.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $14.43.
Discounted at 10% per
year over 5 years → Fair Value:
$8.
