Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.65B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
38.09%.
Starting with 1.65B and growing at 38.09%
for 5 years, we estimate Free Cash Flow will be
8.26B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.65B.
We will project this out 5 year(s) with a growth rate
of 0.67%.
Estimated Diluted Shares Outstanding: 3.77B.
Step 3: Project Future Stock Price
Using a price ratio of 7.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.26B ÷ 3.77B) × 7.42 =
$16
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.1.
Projected over 5 years with a growth rate of
-2.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.46609100185258634.
Step 5: Discount the Projected Stock Price
Projected stock price: $16.
Including dividends, total future value: $16.47.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
