Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.14B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
51.54%.
Starting with 1.14B and growing at 51.54%
for 5 years, we estimate Free Cash Flow will be
9.1B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 203.4M.
We will project this out 5 year(s) with a growth rate
of 2.68%.
Estimated Diluted Shares Outstanding: 232.16M.
Step 3: Project Future Stock Price
Using a price ratio of 40.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(9.1B ÷ 232.16M) × 40.33 =
$1580
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.13.
Projected over 5 years with a growth rate of
49.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$42.71779556592093.
Step 5: Discount the Projected Stock Price
Projected stock price: $1580.
Including dividends, total future value: $1622.72.
Discounted at 10% per
year over 5 years → Fair Value:
$1007.
