Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
835.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.98%.
Starting with 835.81M and growing at -0.98%
for 5 years, we estimate Free Cash Flow will be
795.65M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 363.57M.
We will project this out 5 year(s) with a growth rate
of 0.1%.
Estimated Diluted Shares Outstanding: 365.39M.
Step 3: Project Future Stock Price
Using a price ratio of 33.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(795.65M ÷ 365.39M) × 33.46 =
$72
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.88.
Projected over 5 years with a growth rate of
24.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.620550362947649.
Step 5: Discount the Projected Stock Price
Projected stock price: $72.
Including dividends, total future value: $79.62.
Discounted at 10% per
year over 5 years → Fair Value:
$49.
