Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
19.92B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.13%.
Starting with 19.92B and growing at 13.13%
for 5 years, we estimate Free Cash Flow will be
36.91B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.3B.
We will project this out 5 year(s) with a growth rate
of 6.5%.
Estimated Diluted Shares Outstanding: 12.74B.
Step 3: Project Future Stock Price
Using a price ratio of 2.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(36.91B ÷ 12.74B) × 2.59 =
$7
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.25.
Step 5: Discount the Projected Stock Price
Projected stock price: $7.
Including dividends, total future value: $8.25.
Discounted at 10% per
year over 5 years → Fair Value:
$5.
