Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
957.93M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.34%.
Starting with 957.93M and growing at -2.34%
for 5 years, we estimate Free Cash Flow will be
850.97M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 102.17M.
We will project this out 5 year(s) with a growth rate
of -1.2%.
Estimated Diluted Shares Outstanding: 96.19M.
Step 3: Project Future Stock Price
Using a price ratio of 341.47, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(850.97M ÷ 96.19M) × 341.47 =
$3020
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.22.
Projected over 5 years with a growth rate of
24.94%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.367641286189606.
Step 5: Discount the Projected Stock Price
Projected stock price: $3020.
Including dividends, total future value: $3039.37.
Discounted at 10% per
year over 5 years → Fair Value:
$1887.
