Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.41B
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-12.68%.
Starting with 3.41B and growing at -12.68%
for 5 years, we estimate Free Cash Flow will be
1.73B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 392.07M.
We will project this out 5 year(s) with a growth rate
of 0.35%.
Estimated Diluted Shares Outstanding: 398.98M.
Step 3: Project Future Stock Price
Using a price ratio of 0.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.73B ÷ 398.98M) × 0.6 =
$2
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.14.
Projected over 5 years with a growth rate of
1.69%, dividends add to total shareholder return.
Expected dividends in 5 years:
$21.585691395918317.
Step 5: Discount the Projected Stock Price
Projected stock price: $2.
Including dividends, total future value: $23.59.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
