Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
26.98B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.12%.
Starting with 26.98B and growing at 10.12%
for 5 years, we estimate Free Cash Flow will be
43.69B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.49B.
We will project this out 5 year(s) with a growth rate
of -0.17%.
Estimated Diluted Shares Outstanding: 2.47B.
Step 3: Project Future Stock Price
Using a price ratio of 30.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(43.69B ÷ 2.47B) × 30.01 =
$530
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.02.
Projected over 5 years with a growth rate of
-10.07%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.746095683834327.
Step 5: Discount the Projected Stock Price
Projected stock price: $530.
Including dividends, total future value: $537.75.
Discounted at 10% per
year over 5 years → Fair Value:
$333.
