Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
19.82% |
| Profit Margins |
17.61% |
| Return on Equity |
99.29% |
| Return on Assets |
11.22% |
| Free Float |
0.17B |
| Dividend Yield |
1.20% |
| Short Int % Utilisation |
2.63% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
7.4% |
| Free Cash Flow |
1.82B |
| EBITDA |
22.05 (Ratio) |
| Enterprise Value |
77.05B |
| EV/Revenue |
6.49 |
| EV/EBITDA |
22.05 |
Revenue growth of 7.4% indicates steady, moderate expansion.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
6.08% |
| Risk / Std Dev (Ann.)* |
25.97% |
| 1-Year Price Return* |
2.49% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$466.51 |
| 52-Week Range |
$359.36 – $493.57 |
| Observation Count |
248 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 |
$11.68B |
| Prior annual revenue |
$10.82B |
| EBIT |
$3.17B |
| Tax rate |
23.19% |
| NOPAT = EBIT × (1 − tax rate) |
$2.44B |
| Forecast start-growth basis |
8.00% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$2.44B |
| Add: depreciation & amortisation |
$425.00M |
| Less: capital expenditure |
-$265.00M |
| Less/(add): working-capital cash-flow movement |
-$44.00M |
| Current unlevered FCFF |
$2.55B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
8.00% |
$2.63B |
$458.99M |
-$286.19M |
-$47.52M |
$2.76B |
$2.64B |
| 2 |
6.62% |
$2.81B |
$489.38M |
-$351.20M |
-$50.67M |
$2.89B |
$2.55B |
| 3 |
5.25% |
$2.95B |
$515.07M |
-$418.11M |
-$53.32M |
$3.00B |
$2.43B |
| 4 |
3.87% |
$3.07B |
$535.02M |
-$484.67M |
-$55.39M |
$3.06B |
$2.28B |
| 5 |
2.50% |
$3.14B |
$548.40M |
-$548.40M |
-$56.78M |
$3.09B |
$2.11B |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
0.87 |
| Cost of equity |
9.50% |
| Pre-tax cost of debt |
4.41% |
| WACC |
8.82% |
| WACC validation |
within standard range |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$50.09B |
| Implied terminal EV / EBITDA |
10.79x |
| Terminal value as % of enterprise value |
73.22% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$12.01B |
| Present value of terminal value |
$32.83B |
| Indicated enterprise value |
$44.83B |
| 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 |
$44.83B |
| Less: gross interest-bearing debt |
$9.77B |
| Add: cash and equivalents |
$1.16B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$17.00M |
| Indicated common equity value |
$36.21B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
169,000,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$471.49 |
| DCF indicative value per share |
$214.28 |
| Indicative value vs. market price |
-54.55% |
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 |