Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
38.58B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
88.36%.
Starting with 38.58B and growing at 88.36%
for 5 years, we estimate Free Cash Flow will be
914.66B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 726.42M.
We will project this out 5 year(s) with a growth rate
of -0.91%.
Estimated Diluted Shares Outstanding: 693.96M.
Step 3: Project Future Stock Price
Using a price ratio of 0.84, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(914.66B ÷ 693.96M) × 0.84 =
$1107
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.13.
Projected over 5 years with a growth rate of
-21.12%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.3591952719631846.
Step 5: Discount the Projected Stock Price
Projected stock price: $1107.
Including dividends, total future value: $1107.36.
Discounted at 10% per
year over 5 years → Fair Value:
$687.
