Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
42.46B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-27.63%.
Starting with 42.46B and growing at -27.63%
for 5 years, we estimate Free Cash Flow will be
8.43B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 123.9M.
We will project this out 5 year(s) with a growth rate
of 15.04%.
Estimated Diluted Shares Outstanding: 249.64M.
Step 3: Project Future Stock Price
Using a price ratio of 307.06, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.43B ÷ 249.64M) × 307.06 =
$10367
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.09.
Projected over 5 years with a growth rate of
-1.52%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.057415449862333.
Step 5: Discount the Projected Stock Price
Projected stock price: $10367.
Including dividends, total future value: $10377.06.
Discounted at 10% per
year over 5 years → Fair Value:
$6443.
