Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
5.26B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.82%.
Starting with 5.26B and growing at 16.82%
for 5 years, we estimate Free Cash Flow will be
11.45B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 723.57M.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 723.57M.
Step 3: Project Future Stock Price
Using a price ratio of 5.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(11.45B ÷ 723.57M) × 5.46 =
$86
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.87.
Projected over 5 years with a growth rate of
11.70%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.329473845023443.
Step 5: Discount the Projected Stock Price
Projected stock price: $86.
Including dividends, total future value: $98.33.
Discounted at 10% per
year over 5 years → Fair Value:
$61.
