Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
975.21B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
19.46%.
Starting with 975.21B and growing at 19.46%
for 5 years, we estimate Free Cash Flow will be
2,372.5B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.84B.
We will project this out 5 year(s) with a growth rate
of -2.68%.
Estimated Diluted Shares Outstanding: 3.35B.
Step 3: Project Future Stock Price
Using a price ratio of 0.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2,372.5B ÷ 3.35B) × 0.07 =
$49
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.06.
Projected over 5 years with a growth rate of
11.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.886118664483983.
Step 5: Discount the Projected Stock Price
Projected stock price: $49.
Including dividends, total future value: $55.89.
Discounted at 10% per
year over 5 years → Fair Value:
$34.
