Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
137.39B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.45%.
Starting with 137.39B and growing at 30.45%
for 5 years, we estimate Free Cash Flow will be
519.02B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.47B.
We will project this out 5 year(s) with a growth rate
of -0.44%.
Estimated Diluted Shares Outstanding: 1.44B.
Step 3: Project Future Stock Price
Using a price ratio of 0.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(519.02B ÷ 1.44B) × 0.27 =
$97
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.29.
Projected over 5 years with a growth rate of
-4.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.2818768936842908.
Step 5: Discount the Projected Stock Price
Projected stock price: $97.
Including dividends, total future value: $98.28.
Discounted at 10% per
year over 5 years → Fair Value:
$61.
