Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.3B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 8.3B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
8.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.06B.
We will project this out 5 year(s) with a growth rate
of 1.18%.
Estimated Diluted Shares Outstanding: 2.18B.
Step 3: Project Future Stock Price
Using a price ratio of 184.41, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.3B ÷ 2.18B) × 184.41 =
$701
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.73.
Projected over 5 years with a growth rate of
3.95%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.038131755487257.
Step 5: Discount the Projected Stock Price
Projected stock price: $701.
Including dividends, total future value: $716.04.
Discounted at 10% per
year over 5 years → Fair Value:
$444.
