Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
423.8B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
15.63%.
Starting with 423.8B and growing at 15.63%
for 5 years, we estimate Free Cash Flow will be
876.02B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 929.61M.
We will project this out 5 year(s) with a growth rate
of -0.67%.
Estimated Diluted Shares Outstanding: 898.88M.
Step 3: Project Future Stock Price
Using a price ratio of 0.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(876.02B ÷ 898.88M) × 0.52 =
$506
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.2.
Projected over 5 years with a growth rate of
149.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$59.197883330292726.
Step 5: Discount the Projected Stock Price
Projected stock price: $506.
Including dividends, total future value: $565.2.
Discounted at 10% per
year over 5 years → Fair Value:
$350.
