Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.44B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-12.07%.
Starting with 2.44B and growing at -12.07%
for 5 years, we estimate Free Cash Flow will be
1.28B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 120.27M.
We will project this out 5 year(s) with a growth rate
of -2.15%.
Estimated Diluted Shares Outstanding: 107.89M.
Step 3: Project Future Stock Price
Using a price ratio of 19.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.28B ÷ 107.89M) × 19.08 =
$226
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.42.
Projected over 5 years with a growth rate of
1.21%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.774604080779795.
Step 5: Discount the Projected Stock Price
Projected stock price: $226.
Including dividends, total future value: $248.77.
Discounted at 10% per
year over 5 years → Fair Value:
$154.
