Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.25B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.68%.
Starting with 1.25B and growing at 17.68%
for 5 years, we estimate Free Cash Flow will be
2.83B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 218.99M.
We will project this out 5 year(s) with a growth rate
of 5.18%.
Estimated Diluted Shares Outstanding: 281.9M.
Step 3: Project Future Stock Price
Using a price ratio of 13.16, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.83B ÷ 281.9M) × 13.16 =
$132
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.46.
Projected over 5 years with a growth rate of
-7.95%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.128603281016677.
Step 5: Discount the Projected Stock Price
Projected stock price: $132.
Including dividends, total future value: $150.13.
Discounted at 10% per
year over 5 years → Fair Value:
$93.
