Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.1B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.48%.
Starting with 2.1B and growing at 10.48%
for 5 years, we estimate Free Cash Flow will be
3.46B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 331.78M.
We will project this out 5 year(s) with a growth rate
of -0.5%.
Estimated Diluted Shares Outstanding: 323.57M.
Step 3: Project Future Stock Price
Using a price ratio of 21.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.46B ÷ 323.57M) × 21.21 =
$226
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.22.
Projected over 5 years with a growth rate of
-2.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$29.229983712013972.
Step 5: Discount the Projected Stock Price
Projected stock price: $226.
Including dividends, total future value: $255.23.
Discounted at 10% per
year over 5 years → Fair Value:
$158.
