Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
118.08B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
37.75%.
Starting with 118.08B and growing at 37.75%
for 5 years, we estimate Free Cash Flow will be
585.64B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.89B.
We will project this out 5 year(s) with a growth rate
of -0.05%.
Estimated Diluted Shares Outstanding: 1.88B.
Step 3: Project Future Stock Price
Using a price ratio of 1.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(585.64B ÷ 1.88B) × 1.07 =
$333
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.01.
Projected over 5 years with a growth rate of
-4.00%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.560048488836933.
Step 5: Discount the Projected Stock Price
Projected stock price: $333.
Including dividends, total future value: $337.56.
Discounted at 10% per
year over 5 years → Fair Value:
$209.
