Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
13.18% |
| Profit Margins |
8.03% |
| Return on Equity |
11.57% |
| Return on Assets |
4.05% |
| Free Float |
1.25B |
| Dividend Yield |
1.48% |
| Short Int % Utilisation |
1.23% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
8.7% |
| Free Cash Flow |
7.23B |
| EBITDA |
17.87 (Ratio) |
| Enterprise Value |
272.79B |
| EV/Revenue |
3.02 |
| EV/EBITDA |
17.87 |
Revenue growth of 8.7% indicates steady, moderate expansion.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
52.24% |
| Risk / Std Dev (Ann.)* |
25.86% |
| 1-Year Price Return* |
46.85% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$222.97 |
| 52-Week Range |
$150.61 – $226.88 |
| 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 |
$88.60B |
| Prior annual revenue |
$80.74B |
| EBIT |
$10.57B |
| Tax rate |
19.05% |
| NOPAT = EBIT × (1 − tax rate) |
$8.55B |
| Forecast start-growth basis |
9.74% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$8.55B |
| Add: depreciation & amortisation |
$4.38B |
| Less: capital expenditure |
-$3.12B |
| Less/(add): working-capital cash-flow movement |
-$1.27B |
| Current unlevered FCFF |
$8.54B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
9.74% |
$9.39B |
$4.80B |
-$3.42B |
-$1.40B |
$9.37B |
$9.10B |
| 2 |
7.93% |
$10.13B |
$5.19B |
-$4.07B |
-$1.51B |
$9.74B |
$8.92B |
| 3 |
6.12% |
$10.75B |
$5.50B |
-$4.71B |
-$1.60B |
$9.94B |
$8.59B |
| 4 |
4.31% |
$11.22B |
$5.74B |
-$5.33B |
-$1.67B |
$9.96B |
$8.12B |
| 5 |
2.50% |
$11.50B |
$5.88B |
-$5.88B |
-$1.71B |
$9.78B |
$7.52B |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
0.29 |
| Cost of equity |
6.33% |
| Pre-tax cost of debt |
4.45% |
| WACC |
6.01% |
| WACC validation |
requires assumption review |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$285.39B |
| Implied terminal EV / EBITDA |
14.21x |
| Terminal value as % of enterprise value |
83.45% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$42.26B |
| Present value of terminal value |
$213.12B |
| Indicated enterprise value |
$255.38B |
| 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 |
$255.38B |
| Less: gross interest-bearing debt |
$39.51B |
| Add: cash and equivalents |
$7.43B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$1.89B |
| Indicated common equity value |
$221.42B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
1,356,400,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$224.13 |
| DCF indicative value per share |
$163.24 |
| Indicative value vs. market price |
-27.17% |
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 |
3/4 evidenced checks |
| Lynch-inspired balance-and-growth checks |
4/4 evidenced checks |