Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
19.65% |
| Profit Margins |
12.8% |
| Return on Equity |
111.73% |
| Return on Assets |
10.16% |
| Free Float |
0.33B |
| Dividend Yield |
4.74% |
| Short Int % Utilisation |
14.86% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
2.7% |
| Free Cash Flow |
1.05B |
| EBITDA |
12.06 (Ratio) |
| Enterprise Value |
40.4B |
| EV/Revenue |
2.44 |
| EV/EBITDA |
12.06 |
Revenue growth of 2.7% suggests mature or challenged top-line momentum.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
-9.66% |
| Risk / Std Dev (Ann.)* |
27.25% |
| 1-Year Price Return* |
-12.90% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$110.39 |
| 52-Week Range |
$92.42 – $136.17 |
| Observation Count |
250 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 |
$16.45B |
| Prior annual revenue |
$16.80B |
| EBIT |
$2.31B |
| Tax rate |
29.19% |
| NOPAT = EBIT × (1 − tax rate) |
$1.63B |
| Forecast start-growth basis |
-2.13% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$1.63B |
| Add: depreciation & amortisation |
$805.00M |
| Less: capital expenditure |
-$1.14B |
| Less/(add): working-capital cash-flow movement |
-$503.00M |
| Current unlevered FCFF |
$798.27M |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
-2.13% |
$1.60B |
$787.85M |
-$1.11B |
-$492.28M |
$781.27M |
$760.28M |
| 2 |
-0.97% |
$1.58B |
$780.19M |
-$1.02B |
-$487.50M |
$854.35M |
$787.34M |
| 3 |
0.18% |
$1.59B |
$781.63M |
-$943.30M |
-$488.40M |
$936.76M |
$817.54M |
| 4 |
1.34% |
$1.61B |
$792.12M |
-$874.04M |
-$494.95M |
$1.03B |
$852.30M |
| 5 |
2.50% |
$1.65B |
$811.93M |
-$811.93M |
-$507.33M |
$1.14B |
$893.03M |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
0.28 |
| Cost of equity |
6.23% |
| Pre-tax cost of debt |
3.45% |
| WACC |
5.60% |
| WACC validation |
requires assumption review |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$37.77B |
| Implied terminal EV / EBITDA |
12.03x |
| Terminal value as % of enterprise value |
87.50% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$4.11B |
| Present value of terminal value |
$28.77B |
| Indicated enterprise value |
$32.88B |
| 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 |
$32.88B |
| Less: gross interest-bearing debt |
$7.30B |
| Add: cash and equivalents |
$774.00M |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$128.00M |
| Indicated common equity value |
$26.23B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
333,200,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$109.12 |
| DCF indicative value per share |
$78.72 |
| Indicative value vs. market price |
-27.86% |
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 |
within review band |
| 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 |
4/4 evidenced checks |
| Lynch-inspired balance-and-growth checks |
4/4 evidenced checks |