Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
7.25B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.09%.
Starting with 7.25B and growing at 2.09%
for 5 years, we estimate Free Cash Flow will be
8.04B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.5B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 1.5B.
Step 3: Project Future Stock Price
Using a price ratio of 8.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.04B ÷ 1.5B) × 8.14 =
$43
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.5.
Projected over 5 years with a growth rate of
6.88%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.952440278276619.
Step 5: Discount the Projected Stock Price
Projected stock price: $43.
Including dividends, total future value: $45.95.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
