Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.2B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.67%.
Starting with 1.2B and growing at 5.67%
for 5 years, we estimate Free Cash Flow will be
1.58B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 248.47M.
We will project this out 5 year(s) with a growth rate
of -2.66%.
Estimated Diluted Shares Outstanding: 217.14M.
Step 3: Project Future Stock Price
Using a price ratio of 6.83, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.58B ÷ 217.14M) × 6.83 =
$49
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.4.
Projected over 5 years with a growth rate of
27.86%, dividends add to total shareholder return.
Expected dividends in 5 years:
$31.425751473631276.
Step 5: Discount the Projected Stock Price
Projected stock price: $49.
Including dividends, total future value: $80.43.
Discounted at 10% per
year over 5 years → Fair Value:
$49.
