Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
621.21B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.35%.
Starting with 621.21B and growing at -5.35%
for 5 years, we estimate Free Cash Flow will be
471.89B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 474.27M.
We will project this out 5 year(s) with a growth rate
of 0.1%.
Estimated Diluted Shares Outstanding: 476.64M.
Step 3: Project Future Stock Price
Using a price ratio of 0.03, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(471.89B ÷ 476.64M) × 0.03 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.35.
Projected over 5 years with a growth rate of
-21.01%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.9704392047173898.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $29.97.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
