Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.64B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.38%.
Starting with 1.64B and growing at -10.38%
for 5 years, we estimate Free Cash Flow will be
949.88M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 281.78M.
We will project this out 5 year(s) with a growth rate
of -1.9%.
Estimated Diluted Shares Outstanding: 256.01M.
Step 3: Project Future Stock Price
Using a price ratio of 21.9, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(949.88M ÷ 256.01M) × 21.9 =
$81
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.41.
Projected over 5 years with a growth rate of
-1.88%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.491610454522588.
Step 5: Discount the Projected Stock Price
Projected stock price: $81.
Including dividends, total future value: $92.49.
Discounted at 10% per
year over 5 years → Fair Value:
$57.
