Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
7.86B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.48%.
Starting with 7.86B and growing at 17.48%
for 5 years, we estimate Free Cash Flow will be
17.58B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.62B.
We will project this out 5 year(s) with a growth rate
of -3.25%.
Estimated Diluted Shares Outstanding: 2.22B.
Step 3: Project Future Stock Price
Using a price ratio of 10.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(17.58B ÷ 2.22B) × 10.21 =
$80
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.84.
Projected over 5 years with a growth rate of
15.19%, dividends add to total shareholder return.
Expected dividends in 5 years:
$20.22205513159315.
Step 5: Discount the Projected Stock Price
Projected stock price: $80.
Including dividends, total future value: $100.22.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
