Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
36.83B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
33.08%.
Starting with 36.83B and growing at 33.08%
for 5 years, we estimate Free Cash Flow will be
153.75B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.33B.
We will project this out 5 year(s) with a growth rate
of 0.11%.
Estimated Diluted Shares Outstanding: 3.35B.
Step 3: Project Future Stock Price
Using a price ratio of 1.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(153.75B ÷ 3.35B) × 1.46 =
$66
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.42.
Projected over 5 years with a growth rate of
12.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.8384960407851216.
Step 5: Discount the Projected Stock Price
Projected stock price: $66.
Including dividends, total future value: $68.84.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
