Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.73B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.96%.
Starting with 1.73B and growing at -4.96%
for 5 years, we estimate Free Cash Flow will be
1.34B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 215.75M.
We will project this out 5 year(s) with a growth rate
of -2.74%.
Estimated Diluted Shares Outstanding: 187.77M.
Step 3: Project Future Stock Price
Using a price ratio of 9.91, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.34B ÷ 187.77M) × 9.91 =
$70
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.
Projected over 5 years with a growth rate of
-7.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.253828015674644.
Step 5: Discount the Projected Stock Price
Projected stock price: $70.
Including dividends, total future value: $82.25.
Discounted at 10% per
year over 5 years → Fair Value:
$51.
