Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
613.72B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 613.72B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
613.72B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 16.79B.
We will project this out 5 year(s) with a growth rate
of 1.5%.
Estimated Diluted Shares Outstanding: 18.09B.
Step 3: Project Future Stock Price
Using a price ratio of 4.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(613.72B ÷ 18.09B) × 4.82 =
$163
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
-1.17%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.039794714457421.
Step 5: Discount the Projected Stock Price
Projected stock price: $163.
Including dividends, total future value: $170.04.
Discounted at 10% per
year over 5 years → Fair Value:
$105.
