Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
17.76B
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 17.76B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
17.76B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 65.04M.
We will project this out 5 year(s) with a growth rate
of -0.1%.
Estimated Diluted Shares Outstanding: 64.72M.
Step 3: Project Future Stock Price
Using a price ratio of 0.12, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(17.76B ÷ 64.72M) × 0.12 =
$32
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.89.
Projected over 5 years with a growth rate of
-10.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.378830816669994.
Step 5: Discount the Projected Stock Price
Projected stock price: $32.
Including dividends, total future value: $35.38.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
