Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
50.64B
as of Dec 31, 2024.
We will project this out 5 years with a yearly growth
rate of
8.6%.
Starting with 50.64B and growing at 8.6%
for 5 years, we estimate Free Cash Flow will be
76.49B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 889.72M.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 889.72M.
Step 3: Project Future Stock Price
Using a price ratio of 0.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(76.49B ÷ 889.72M) × 0.52 =
$44
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.57.
Projected over 5 years with a growth rate of
-6.60%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.048922686530403.
Step 5: Discount the Projected Stock Price
Projected stock price: $44.
Including dividends, total future value: $59.05.
Discounted at 10% per
year over 5 years → Fair Value:
$36.
