Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
6.89B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.38%.
Starting with 6.89B and growing at 7.38%
for 5 years, we estimate Free Cash Flow will be
9.83B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.68B.
We will project this out 5 year(s) with a growth rate
of 0.13%.
Estimated Diluted Shares Outstanding: 1.69B.
Step 3: Project Future Stock Price
Using a price ratio of 30.44, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(9.83B ÷ 1.69B) × 30.44 =
$177
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
6.07%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.400776463344902.
Step 5: Discount the Projected Stock Price
Projected stock price: $177.
Including dividends, total future value: $185.4.
Discounted at 10% per
year over 5 years → Fair Value:
$115.
