Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.64B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.61%.
Starting with 3.64B and growing at 9.61%
for 5 years, we estimate Free Cash Flow will be
5.77B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 285.87M.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 286.01M.
Step 3: Project Future Stock Price
Using a price ratio of 1.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.77B ÷ 286.01M) × 1.81 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.2.
Projected over 5 years with a growth rate of
-17.33%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.6213979899074931.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $36.62.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
