Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.36B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
41.08%.
Starting with 1.36B and growing at 41.08%
for 5 years, we estimate Free Cash Flow will be
7.59B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 147.98M.
We will project this out 5 year(s) with a growth rate
of 0.34%.
Estimated Diluted Shares Outstanding: 150.51M.
Step 3: Project Future Stock Price
Using a price ratio of 123.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.59B ÷ 150.51M) × 123.38 =
$6222
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.49.
Projected over 5 years with a growth rate of
13.75%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.380995538564862.
Step 5: Discount the Projected Stock Price
Projected stock price: $6222.
Including dividends, total future value: $6225.38.
Discounted at 10% per
year over 5 years → Fair Value:
$3865.
