Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.2B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
45.95%.
Starting with 3.2B and growing at 45.95%
for 5 years, we estimate Free Cash Flow will be
21.18B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.41B.
We will project this out 5 year(s) with a growth rate
of 20.55%.
Estimated Diluted Shares Outstanding: 6.15B.
Step 3: Project Future Stock Price
Using a price ratio of 2.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(21.18B ÷ 6.15B) × 2.8 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.21.
Projected over 5 years with a growth rate of
-16.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.6764035941608642.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $9.68.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
