Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.97B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.95%.
Starting with 1.97B and growing at 2.95%
for 5 years, we estimate Free Cash Flow will be
2.28B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.1B.
We will project this out 5 year(s) with a growth rate
of -13.88%.
Estimated Diluted Shares Outstanding: 519.71M.
Step 3: Project Future Stock Price
Using a price ratio of 5.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.28B ÷ 519.71M) × 5.89 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.13.
Projected over 5 years with a growth rate of
19.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.0161759911243018.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $26.02.
Discounted at 10% per
year over 5 years → Fair Value:
$16.
