Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
192.33B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
12.14%.
Starting with 192.33B and growing at 12.14%
for 5 years, we estimate Free Cash Flow will be
341.08B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.08B.
We will project this out 5 year(s) with a growth rate
of -0.52%.
Estimated Diluted Shares Outstanding: 8.84B.
Step 3: Project Future Stock Price
Using a price ratio of 3.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(341.08B ÷ 8.84B) × 3.15 =
$121
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.01.
Projected over 5 years with a growth rate of
30.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.738314144628717.
Step 5: Discount the Projected Stock Price
Projected stock price: $121.
Including dividends, total future value: $130.74.
Discounted at 10% per
year over 5 years → Fair Value:
$81.
