Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
18.04B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
178.76%.
Starting with 18.04B and growing at 178.76%
for 5 years, we estimate Free Cash Flow will be
3,037.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 626.02M.
We will project this out 5 year(s) with a growth rate
of 3.28%.
Estimated Diluted Shares Outstanding: 735.65M.
Step 3: Project Future Stock Price
Using a price ratio of 0.71, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3,037.3B ÷ 735.65M) × 0.71 =
$2931
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.26.
Projected over 5 years with a growth rate of
15.69%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.871470152127896.
Step 5: Discount the Projected Stock Price
Projected stock price: $2931.
Including dividends, total future value: $2932.87.
Discounted at 10% per
year over 5 years → Fair Value:
$1821.
