Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
22.3% |
| Profit Margins |
11.21% |
| Return on Equity |
9.76% |
| Return on Assets |
2.84% |
| Free Float |
1.02B |
| Dividend Yield |
3.54% |
| Short Int % Utilisation |
4.63% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
7.9% |
| Free Cash Flow |
-2.81B |
| EBITDA |
11.78 (Ratio) |
| Enterprise Value |
97.2B |
| EV/Revenue |
3.92 |
| EV/EBITDA |
11.78 |
Revenue growth of 7.9% indicates steady, moderate expansion.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
7.63% |
| Risk / Std Dev (Ann.)* |
19.16% |
| 1-Year Price Return* |
5.64% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$45.86 |
| 52-Week Range |
$42.58 – $50.65 |
| Observation Count |
251 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 |
$24.26B |
| Prior annual revenue |
$23.03B |
| EBIT |
$5.42B |
| Tax rate |
15.90% |
| NOPAT = EBIT × (1 − tax rate) |
$4.56B |
| Forecast start-growth basis |
5.34% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$4.56B |
| Add: depreciation & amortisation |
$3.05B |
| Less: capital expenditure |
-$8.53B |
| Less/(add): working-capital cash-flow movement |
-$1.52B |
| Current unlevered FCFF |
-$2.45B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
5.34% |
$4.80B |
$3.21B |
-$8.98B |
-$1.61B |
-$2.58B |
-$2.52B |
| 2 |
4.63% |
$5.02B |
$3.36B |
-$7.89B |
-$1.68B |
-$1.19B |
-$1.10B |
| 3 |
3.92% |
$5.22B |
$3.49B |
-$6.63B |
-$1.75B |
$333.36M |
$293.33M |
| 4 |
3.21% |
$5.39B |
$3.60B |
-$5.22B |
-$1.80B |
$1.96B |
$1.64B |
| 5 |
2.50% |
$5.52B |
$3.69B |
-$3.69B |
-$1.85B |
$3.67B |
$2.92B |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
0.40 |
| Cost of equity |
6.89% |
| Pre-tax cost of debt |
4.40% |
| WACC |
5.25% |
| WACC validation |
requires assumption review |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$136.99B |
| Implied terminal EV / EBITDA |
13.36x |
| Terminal value as % of enterprise value |
98.85% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$1.24B |
| Present value of terminal value |
$106.07B |
| Indicated enterprise value |
$107.31B |
| 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 |
$107.31B |
| Less: gross interest-bearing debt |
$50.08B |
| Add: cash and equivalents |
$626.00M |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$0.00 |
| Indicated common equity value |
$57.85B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
1,012,000,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$45.95 |
| DCF indicative value per share |
$57.17 |
| Indicative value vs. market price |
24.41% |
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 |
review required |
| Terminal-year FCFF is positive |
pass |
| Terminal capex converges to D&A |
pass |
| Terminal-value concentration |
review required |
| Implied price differs from spot by more than 30% |
within review band |
2.6 Investor-Style Research Screen
| Educational screen |
Result |
| Buffett-inspired cash-quality checks |
0/4 evidenced checks |
| Lynch-inspired balance-and-growth checks |
1/4 evidenced checks |