Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
421.96B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
25.35%.
Starting with 421.96B and growing at 25.35%
for 5 years, we estimate Free Cash Flow will be
1,305.9B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.87B.
We will project this out 5 year(s) with a growth rate
of -0.95%.
Estimated Diluted Shares Outstanding: 1.79B.
Step 3: Project Future Stock Price
Using a price ratio of 0.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,305.9B ÷ 1.79B) × 0.55 =
$402
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.09.
Projected over 5 years with a growth rate of
-6.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.652791023176285.
Step 5: Discount the Projected Stock Price
Projected stock price: $402.
Including dividends, total future value: $406.65.
Discounted at 10% per
year over 5 years → Fair Value:
$252.
