Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
103.84B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.58%.
Starting with 103.84B and growing at 4.58%
for 5 years, we estimate Free Cash Flow will be
129.9B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 59.8M.
We will project this out 5 year(s) with a growth rate
of 4.5%.
Estimated Diluted Shares Outstanding: 74.52M.
Step 3: Project Future Stock Price
Using a price ratio of 0.05, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(129.9B ÷ 74.52M) × 0.05 =
$87
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.93.
Projected over 5 years with a growth rate of
10.19%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.299367295067103.
Step 5: Discount the Projected Stock Price
Projected stock price: $87.
Including dividends, total future value: $99.3.
Discounted at 10% per
year over 5 years → Fair Value:
$61.
