Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
5.62B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.32%.
Starting with 5.62B and growing at 6.32%
for 5 years, we estimate Free Cash Flow will be
7.64B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.12B.
We will project this out 5 year(s) with a growth rate
of -0.48%.
Estimated Diluted Shares Outstanding: 1.09B.
Step 3: Project Future Stock Price
Using a price ratio of 29.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.64B ÷ 1.09B) × 29.46 =
$206
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.42.
Projected over 5 years with a growth rate of
13.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.641544412744159.
Step 5: Discount the Projected Stock Price
Projected stock price: $206.
Including dividends, total future value: $215.64.
Discounted at 10% per
year over 5 years → Fair Value:
$133.
