Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
527.89B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.25%.
Starting with 527.89B and growing at 26.25%
for 5 years, we estimate Free Cash Flow will be
1,693.2B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.21B.
We will project this out 5 year(s) with a growth rate
of -0.61%.
Estimated Diluted Shares Outstanding: 1.17B.
Step 3: Project Future Stock Price
Using a price ratio of 0.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,693.2B ÷ 1.17B) × 0.08 =
$115
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.4.
Projected over 5 years with a growth rate of
-7.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.723104365478337.
Step 5: Discount the Projected Stock Price
Projected stock price: $115.
Including dividends, total future value: $120.72.
Discounted at 10% per
year over 5 years → Fair Value:
$74.
