Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
395.87B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.97%.
Starting with 395.87B and growing at 21.97%
for 5 years, we estimate Free Cash Flow will be
1,068.6B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.29B.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 3.29B.
Step 3: Project Future Stock Price
Using a price ratio of 0.4, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,068.6B ÷ 3.29B) × 0.4 =
$129
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.54.
Projected over 5 years with a growth rate of
9.76%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.4077993054392826.
Step 5: Discount the Projected Stock Price
Projected stock price: $129.
Including dividends, total future value: $132.41.
Discounted at 10% per
year over 5 years → Fair Value:
$82.
