Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
11.01B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.41%.
Starting with 11.01B and growing at 0.41%
for 5 years, we estimate Free Cash Flow will be
11.24B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.57B.
We will project this out 5 year(s) with a growth rate
of -0.59%.
Estimated Diluted Shares Outstanding: 14.14B.
Step 3: Project Future Stock Price
Using a price ratio of 10.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(11.24B ÷ 14.14B) × 10.52 =
$8
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.01.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.05.
Step 5: Discount the Projected Stock Price
Projected stock price: $8.
Including dividends, total future value: $8.05.
Discounted at 10% per
year over 5 years → Fair Value:
$4.
