Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.86B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.99%.
Starting with 2.86B and growing at 2.99%
for 5 years, we estimate Free Cash Flow will be
3.32B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.29B.
We will project this out 5 year(s) with a growth rate
of -1.57%.
Estimated Diluted Shares Outstanding: 1.2B.
Step 3: Project Future Stock Price
Using a price ratio of 26.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.32B ÷ 1.2B) × 26.89 =
$74
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.38.
Projected over 5 years with a growth rate of
3.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.034625174395186.
Step 5: Discount the Projected Stock Price
Projected stock price: $74.
Including dividends, total future value: $87.03.
Discounted at 10% per
year over 5 years → Fair Value:
$54.
