Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
65.44B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.53%.
Starting with 65.44B and growing at -10.53%
for 5 years, we estimate Free Cash Flow will be
37.52B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 19.2B.
We will project this out 5 year(s) with a growth rate
of -35.33%.
Estimated Diluted Shares Outstanding: 2.17B.
Step 3: Project Future Stock Price
Using a price ratio of 2.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(37.52B ÷ 2.17B) × 2.46 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.46.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.3000000000000003.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $44.3.
Discounted at 10% per
year over 5 years → Fair Value:
$27.
