Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.72B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
70.22%.
Starting with 8.72B and growing at 70.22%
for 5 years, we estimate Free Cash Flow will be
124.67B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.1B.
We will project this out 5 year(s) with a growth rate
of 3.74%.
Estimated Diluted Shares Outstanding: 3.72B.
Step 3: Project Future Stock Price
Using a price ratio of 37.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(124.67B ÷ 3.72B) × 37.96 =
$1270
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.05.
Projected over 5 years with a growth rate of
2.25%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.836328375853698.
Step 5: Discount the Projected Stock Price
Projected stock price: $1270.
Including dividends, total future value: $1280.84.
Discounted at 10% per
year over 5 years → Fair Value:
$795.
