Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.25B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
38.1%.
Starting with 1.25B and growing at 38.1%
for 5 years, we estimate Free Cash Flow will be
6.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 30.32M.
We will project this out 5 year(s) with a growth rate
of -7.31%.
Estimated Diluted Shares Outstanding: 20.74M.
Step 3: Project Future Stock Price
Using a price ratio of 5.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(6.3B ÷ 20.74M) × 5.89 =
$1788
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.27.
Projected over 5 years with a growth rate of
20.03%, dividends add to total shareholder return.
Expected dividends in 5 years:
$57.375823306847145.
Step 5: Discount the Projected Stock Price
Projected stock price: $1788.
Including dividends, total future value: $1845.38.
Discounted at 10% per
year over 5 years → Fair Value:
$1145.
