Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
24.24% |
| Profit Margins |
13.35% |
| Return on Equity |
12.33% |
| Return on Assets |
6.68% |
| Free Float |
0.56B |
| Dividend Yield |
1.55% |
| Short Int % Utilisation |
2.3% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
2.9% |
| Free Cash Flow |
3.27B |
| EBITDA |
15.16 (Ratio) |
| Enterprise Value |
89.08B |
| EV/Revenue |
4.86 |
| EV/EBITDA |
15.16 |
Revenue growth of 2.9% suggests mature or challenged top-line momentum.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
32.56% |
| Risk / Std Dev (Ann.)* |
32.40% |
| 1-Year Price Return* |
25.37% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$163.17 |
| 52-Week Range |
$122.64 – $166.35 |
| Observation Count |
249 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
2.5 FCFF DCF Valuation
Valuation basis: This research model follows a five-year, unlevered FCFF DCF. It starts from reported annual operating inputs, forecasts revenue and operating cash conversion under an explicit mechanical policy, discounts FCFF at WACC, applies a Gordon-growth terminal value, and bridges enterprise value to an indicative common-equity value per share. It is an analytical estimate rather than a recommendation or personalised target price.
Step 1 — Forecast Operating Profit and NOPAT
| Reported operating input |
Value |
| Revenue |
$18.02B |
| Prior annual revenue |
$17.49B |
| EBIT |
$3.32B |
| Tax rate |
23.70% |
| NOPAT = EBIT × (1 − tax rate) |
$2.53B |
| Forecast start-growth basis |
3.00% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$2.53B |
| Add: depreciation & amortisation |
$1.52B |
| Less: capital expenditure |
-$431.00M |
| Less/(add): working-capital cash-flow movement |
-$9.00M |
| Current unlevered FCFF |
$3.61B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
3.00% |
$2.61B |
$1.56B |
-$443.91M |
-$9.27M |
$3.72B |
$3.54B |
| 2 |
2.87% |
$2.68B |
$1.61B |
-$744.59M |
-$9.54M |
$3.54B |
$3.05B |
| 3 |
2.75% |
$2.76B |
$1.65B |
-$1.06B |
-$9.80M |
$3.34B |
$2.61B |
| 4 |
2.62% |
$2.83B |
$1.70B |
-$1.39B |
-$10.05M |
$3.12B |
$2.22B |
| 5 |
2.50% |
$2.90B |
$1.74B |
-$1.74B |
-$10.31M |
$2.89B |
$1.86B |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
1.24 |
| Cost of equity |
11.50% |
| Pre-tax cost of debt |
3.50% |
| WACC |
10.31% |
| WACC validation |
within standard range |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$37.92B |
| Implied terminal EV / EBITDA |
6.84x |
| Terminal value as % of enterprise value |
63.60% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$13.28B |
| Present value of terminal value |
$23.21B |
| Indicated enterprise value |
$36.50B |
| Discounting convention |
mid-year for explicit FCFF; terminal value discounted at year-end five |
Step 6 — Convert Enterprise Value to Equity Value
| Equity bridge |
Value |
| Indicated enterprise value |
$36.50B |
| Less: gross interest-bearing debt |
$13.76B |
| Add: cash and equivalents |
$1.54B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$16.00M |
| Indicated common equity value |
$24.27B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
566,700,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$158.49 |
| DCF indicative value per share |
$42.82 |
| Indicative value vs. market price |
-72.98% |
Model Integrity Checks
| Check |
Result |
| Perpetuity growth is below the risk-free rate |
pass |
| Perpetuity growth is below WACC |
pass |
| WACC is within the configured operating-company range |
pass |
| Terminal-year FCFF is positive |
pass |
| Terminal capex converges to D&A |
pass |
| Terminal-value concentration |
within review band |
| Implied price differs from spot by more than 30% |
review required |
2.6 Investor-Style Research Screen
| Educational screen |
Result |
| Buffett-inspired cash-quality checks |
4/4 evidenced checks |
| Lynch-inspired balance-and-growth checks |
4/4 evidenced checks |