Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
6.17B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.88%.
Starting with 6.17B and growing at 18.88%
for 5 years, we estimate Free Cash Flow will be
14.66B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.13B.
We will project this out 5 year(s) with a growth rate
of -1.12%.
Estimated Diluted Shares Outstanding: 1.07B.
Step 3: Project Future Stock Price
Using a price ratio of 9.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(14.66B ÷ 1.07B) × 9.49 =
$129
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.08.
Projected over 5 years with a growth rate of
8.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.292815517544156.
Step 5: Discount the Projected Stock Price
Projected stock price: $129.
Including dividends, total future value: $154.29.
Discounted at 10% per
year over 5 years → Fair Value:
$95.
