Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.36B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.64%.
Starting with 1.36B and growing at -1.64%
for 5 years, we estimate Free Cash Flow will be
1.25B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 327.81M.
We will project this out 5 year(s) with a growth rate
of -0.65%.
Estimated Diluted Shares Outstanding: 317.29M.
Step 3: Project Future Stock Price
Using a price ratio of 16.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.25B ÷ 317.29M) × 16.46 =
$65
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.44.
Projected over 5 years with a growth rate of
-2.21%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.537081112712931.
Step 5: Discount the Projected Stock Price
Projected stock price: $65.
Including dividends, total future value: $76.54.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
