Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.27B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.21%.
Starting with 1.27B and growing at 6.21%
for 5 years, we estimate Free Cash Flow will be
1.71B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 209.36M.
We will project this out 5 year(s) with a growth rate
of -5.33%.
Estimated Diluted Shares Outstanding: 159.21M.
Step 3: Project Future Stock Price
Using a price ratio of 16.48, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.71B ÷ 159.21M) × 16.48 =
$177
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.22.
Projected over 5 years with a growth rate of
6.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.133390344665357.
Step 5: Discount the Projected Stock Price
Projected stock price: $177.
Including dividends, total future value: $184.13.
Discounted at 10% per
year over 5 years → Fair Value:
$114.
