Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
282.3B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.97%.
Starting with 282.3B and growing at 20.97%
for 5 years, we estimate Free Cash Flow will be
731.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 936.5M.
We will project this out 5 year(s) with a growth rate
of -2%.
Estimated Diluted Shares Outstanding: 846.52M.
Step 3: Project Future Stock Price
Using a price ratio of 0.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(731.3B ÷ 846.52M) × 0.14 =
$120
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.34.
Projected over 5 years with a growth rate of
-7.54%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.507563656782781.
Step 5: Discount the Projected Stock Price
Projected stock price: $120.
Including dividends, total future value: $125.51.
Discounted at 10% per
year over 5 years → Fair Value:
$77.
