Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.6B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
41.96%.
Starting with 1.6B and growing at 41.96%
for 5 years, we estimate Free Cash Flow will be
9.22B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 494.4M.
We will project this out 5 year(s) with a growth rate
of 0.38%.
Estimated Diluted Shares Outstanding: 503.87M.
Step 3: Project Future Stock Price
Using a price ratio of 113.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(9.22B ÷ 503.87M) × 113.85 =
$2082
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.
Step 5: Discount the Projected Stock Price
Projected stock price: $2082.
Including dividends, total future value: $2085.
Discounted at 10% per
year over 5 years → Fair Value:
$1294.
