Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.21B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
113.39%.
Starting with 2.21B and growing at 113.39%
for 5 years, we estimate Free Cash Flow will be
97.83B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.52B.
We will project this out 5 year(s) with a growth rate
of 4.3%.
Estimated Diluted Shares Outstanding: 1.88B.
Step 3: Project Future Stock Price
Using a price ratio of 10.03, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(97.83B ÷ 1.88B) × 10.03 =
$521
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
-0.26%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.202966853916422.
Step 5: Discount the Projected Stock Price
Projected stock price: $521.
Including dividends, total future value: $528.2.
Discounted at 10% per
year over 5 years → Fair Value:
$327.
