Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
596.16B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
19.89%.
Starting with 596.16B and growing at 19.89%
for 5 years, we estimate Free Cash Flow will be
1,476.6B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.43B.
We will project this out 5 year(s) with a growth rate
of -1.77%.
Estimated Diluted Shares Outstanding: 1.31B.
Step 3: Project Future Stock Price
Using a price ratio of 0.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,476.6B ÷ 1.31B) × 0.21 =
$237
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
-13.80%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.8623392972360415.
Step 5: Discount the Projected Stock Price
Projected stock price: $237.
Including dividends, total future value: $237.86.
Discounted at 10% per
year over 5 years → Fair Value:
$147.
