Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.04B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
85.24%.
Starting with 1.04B and growing at 85.24%
for 5 years, we estimate Free Cash Flow will be
22.72B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.55B.
We will project this out 5 year(s) with a growth rate
of 11.78%.
Estimated Diluted Shares Outstanding: 2.7B.
Step 3: Project Future Stock Price
Using a price ratio of 27.06, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(22.72B ÷ 2.7B) × 27.06 =
$227
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.99.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.95.
Step 5: Discount the Projected Stock Price
Projected stock price: $227.
Including dividends, total future value: $231.95.
Discounted at 10% per
year over 5 years → Fair Value:
$144.
