Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
71.64B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.43%.
Starting with 71.64B and growing at -0.43%
for 5 years, we estimate Free Cash Flow will be
70.11B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.83B.
We will project this out 5 year(s) with a growth rate
of -0.14%.
Estimated Diluted Shares Outstanding: 3.8B.
Step 3: Project Future Stock Price
Using a price ratio of 0.65, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(70.11B ÷ 3.8B) × 0.65 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.37.
Projected over 5 years with a growth rate of
-5.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6085715646698386.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $12.61.
Discounted at 10% per
year over 5 years → Fair Value:
$7.
