Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
48.53B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
33.75%.
Starting with 48.53B and growing at 33.75%
for 5 years, we estimate Free Cash Flow will be
207.71B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.15B.
We will project this out 5 year(s) with a growth rate
of 0.32%.
Estimated Diluted Shares Outstanding: 3.2B.
Step 3: Project Future Stock Price
Using a price ratio of 0.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(207.71B ÷ 3.2B) × 0.52 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.44.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.199999999999999.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $40.2.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
