Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
253.44B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
96.98%.
Starting with 253.44B and growing at 96.98%
for 5 years, we estimate Free Cash Flow will be
7,515.8B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 915.86M.
We will project this out 5 year(s) with a growth rate
of -0.46%.
Estimated Diluted Shares Outstanding: 894.99M.
Step 3: Project Future Stock Price
Using a price ratio of 0.57, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7,515.8B ÷ 894.99M) × 0.57 =
$4786
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.05.
Projected over 5 years with a growth rate of
-0.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.043696738187794.
Step 5: Discount the Projected Stock Price
Projected stock price: $4786.
Including dividends, total future value: $4796.04.
Discounted at 10% per
year over 5 years → Fair Value:
$2977.
