Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
23.98B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
35.22%.
Starting with 23.98B and growing at 35.22%
for 5 years, we estimate Free Cash Flow will be
108.41B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.44B.
We will project this out 5 year(s) with a growth rate
of 10.33%.
Estimated Diluted Shares Outstanding: 10.53B.
Step 3: Project Future Stock Price
Using a price ratio of 0.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(108.41B ÷ 10.53B) × 0.31 =
$3
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.11.
Projected over 5 years with a growth rate of
2.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.5898856881622652.
Step 5: Discount the Projected Stock Price
Projected stock price: $3.
Including dividends, total future value: $3.59.
Discounted at 10% per
year over 5 years → Fair Value:
$2.
