Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.02B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.47%.
Starting with 1.02B and growing at 4.47%
for 5 years, we estimate Free Cash Flow will be
1.27B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 139.71M.
We will project this out 5 year(s) with a growth rate
of -3.03%.
Estimated Diluted Shares Outstanding: 119.79M.
Step 3: Project Future Stock Price
Using a price ratio of 39.32, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.27B ÷ 119.79M) × 39.32 =
$416
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.13.
Projected over 5 years with a growth rate of
4.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.905936014279094.
Step 5: Discount the Projected Stock Price
Projected stock price: $416.
Including dividends, total future value: $427.91.
Discounted at 10% per
year over 5 years → Fair Value:
$265.
