Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.17B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.48%.
Starting with 1.17B and growing at 9.48%
for 5 years, we estimate Free Cash Flow will be
1.84B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 504.78M.
We will project this out 5 year(s) with a growth rate
of 6.32%.
Estimated Diluted Shares Outstanding: 685.76M.
Step 3: Project Future Stock Price
Using a price ratio of 31.74, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.84B ÷ 685.76M) × 31.74 =
$85
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.66.
Projected over 5 years with a growth rate of
14.07%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.586089687747315.
Step 5: Discount the Projected Stock Price
Projected stock price: $85.
Including dividends, total future value: $89.59.
Discounted at 10% per
year over 5 years → Fair Value:
$55.
