Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
141.77B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.17%.
Starting with 141.77B and growing at 21.17%
for 5 years, we estimate Free Cash Flow will be
370.3B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 572.55M.
We will project this out 5 year(s) with a growth rate
of -2.03%.
Estimated Diluted Shares Outstanding: 516.75M.
Step 3: Project Future Stock Price
Using a price ratio of 0.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(370.3B ÷ 516.75M) × 0.26 =
$186
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.74.
Projected over 5 years with a growth rate of
-4.37%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.308926447187821.
Step 5: Discount the Projected Stock Price
Projected stock price: $186.
Including dividends, total future value: $189.31.
Discounted at 10% per
year over 5 years → Fair Value:
$117.
