Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
6.36B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
36.02%.
Starting with 6.36B and growing at 36.02%
for 5 years, we estimate Free Cash Flow will be
29.64B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.44B.
We will project this out 5 year(s) with a growth rate
of 4.31%.
Estimated Diluted Shares Outstanding: 1.77B.
Step 3: Project Future Stock Price
Using a price ratio of 9.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(29.64B ÷ 1.77B) × 9.34 =
$156
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.88.
Projected over 5 years with a growth rate of
24.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.631260473006517.
Step 5: Discount the Projected Stock Price
Projected stock price: $156.
Including dividends, total future value: $163.63.
Discounted at 10% per
year over 5 years → Fair Value:
$101.
