Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
9.56B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-9.99%.
Starting with 9.56B and growing at -9.99%
for 5 years, we estimate Free Cash Flow will be
5.65B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.97B.
We will project this out 5 year(s) with a growth rate
of -1.18%.
Estimated Diluted Shares Outstanding: 1.85B.
Step 3: Project Future Stock Price
Using a price ratio of 1.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.65B ÷ 1.85B) × 1.78 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.48.
Projected over 5 years with a growth rate of
-11.17%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.7848856460425093.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $6.78.
Discounted at 10% per
year over 5 years → Fair Value:
$4.
