Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
273.92B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
34.52%.
Starting with 273.92B and growing at 34.52%
for 5 years, we estimate Free Cash Flow will be
1,206.6B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.75B.
We will project this out 5 year(s) with a growth rate
of -1.39%.
Estimated Diluted Shares Outstanding: 2.57B.
Step 3: Project Future Stock Price
Using a price ratio of 0.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,206.6B ÷ 2.57B) × 0.46 =
$216
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.66.
Projected over 5 years with a growth rate of
-6.78%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.7687687612586043.
Step 5: Discount the Projected Stock Price
Projected stock price: $216.
Including dividends, total future value: $218.77.
Discounted at 10% per
year over 5 years → Fair Value:
$135.
