Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
45.0% |
| Profit Margins |
29.34% |
| Return on Assets |
18.0% |
| Free Float |
0.13B |
| Dividend Yield |
1.10% |
| Short Int % Utilisation |
7.31% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
3.9% |
| Free Cash Flow |
0.94B |
| EBITDA |
18.63 (Ratio) |
| Enterprise Value |
28.09B |
| EV/Revenue |
9.06 |
| EV/EBITDA |
18.63 |
Revenue growth of 3.9% suggests mature or challenged top-line momentum.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
-27.86% |
| Risk / Std Dev (Ann.)* |
34.57% |
| 1-Year Price Return* |
-31.56% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$181.67 |
| 52-Week Range |
$155.94 – $276.19 |
| 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 |
$3.07B |
| Prior annual revenue |
$2.88B |
| EBIT |
$1.34B |
| Tax rate |
22.45% |
| NOPAT = EBIT × (1 − tax rate) |
$1.04B |
| Forecast start-growth basis |
6.63% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$1.04B |
| Add: depreciation & amortisation |
$326.70M |
| Less: capital expenditure |
-$244.10M |
| Less/(add): working-capital cash-flow movement |
$36.10M |
| Current unlevered FCFF |
$1.16B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
6.63% |
$1.11B |
$348.35M |
-$260.28M |
$38.49M |
$1.24B |
$1.19B |
| 2 |
5.60% |
$1.17B |
$367.85M |
-$298.10M |
$40.65M |
$1.28B |
$1.15B |
| 3 |
4.56% |
$1.23B |
$384.64M |
-$336.01M |
$42.50M |
$1.32B |
$1.10B |
| 4 |
3.53% |
$1.27B |
$398.22M |
-$373.05M |
$44.00M |
$1.34B |
$1.04B |
| 5 |
2.50% |
$1.30B |
$408.18M |
-$408.18M |
$45.10M |
$1.35B |
$972.19M |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
0.66 |
| Cost of equity |
8.36% |
| Pre-tax cost of debt |
4.20% |
| WACC |
7.49% |
| WACC validation |
within standard range |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$27.65B |
| Implied terminal EV / EBITDA |
13.26x |
| Terminal value as % of enterprise value |
77.94% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$5.45B |
| Present value of terminal value |
$19.27B |
| Indicated enterprise value |
$24.72B |
| 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 |
$24.72B |
| Less: gross interest-bearing debt |
$4.90B |
| Add: cash and equivalents |
$2.18B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$800,000.00 |
| Indicated common equity value |
$22.00B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
140,082,773.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$182.18 |
| DCF indicative value per share |
$157.03 |
| Indicative value vs. market price |
-13.81% |
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% |
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 |