Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.38B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
191%.
Starting with 2.38B and growing at 191%
for 5 years, we estimate Free Cash Flow will be
495.87B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 341.05M.
We will project this out 5 year(s) with a growth rate
of 9.62%.
Estimated Diluted Shares Outstanding: 539.84M.
Step 3: Project Future Stock Price
Using a price ratio of 64.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(495.87B ÷ 539.84M) × 64.02 =
$58805
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.88.
Projected over 5 years with a growth rate of
-3.96%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.05566744192.
Step 5: Discount the Projected Stock Price
Projected stock price: $58805.
Including dividends, total future value: $58827.06.
Discounted at 10% per
year over 5 years → Fair Value:
$36526.
