Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
17.91B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.49%.
Starting with 17.91B and growing at 16.49%
for 5 years, we estimate Free Cash Flow will be
38.42B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.14M.
We will project this out 5 year(s) with a growth rate
of 2.89%.
Estimated Diluted Shares Outstanding: 16.31M.
Step 3: Project Future Stock Price
Using a price ratio of 4.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(38.42B ÷ 16.31M) × 4.31 =
$10154
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-25.70%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $10154.
Including dividends, total future value: $10154.
Discounted at 10% per
year over 5 years → Fair Value:
$6304.
