Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.28B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.73%.
Starting with 1.28B and growing at -4.73%
for 5 years, we estimate Free Cash Flow will be
1.01B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 176.73M.
We will project this out 5 year(s) with a growth rate
of 0.07%.
Estimated Diluted Shares Outstanding: 177.35M.
Step 3: Project Future Stock Price
Using a price ratio of 11.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.01B ÷ 177.35M) × 11.08 =
$62
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.55.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.75.
Step 5: Discount the Projected Stock Price
Projected stock price: $62.
Including dividends, total future value: $69.75.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
