Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
48.22B
as of Dec 31, 2024.
We will project this out 5 years with a yearly growth
rate of
10.8%.
Starting with 48.22B and growing at 10.8%
for 5 years, we estimate Free Cash Flow will be
80.53B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.9B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 2.9B.
Step 3: Project Future Stock Price
Using a price ratio of 5.66, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(80.53B ÷ 2.9B) × 5.66 =
$157
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.8.
Projected over 5 years with a growth rate of
-7.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.332731136345164.
Step 5: Discount the Projected Stock Price
Projected stock price: $157.
Including dividends, total future value: $160.33.
Discounted at 10% per
year over 5 years → Fair Value:
$99.
