Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.13B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
90.43%.
Starting with 1.13B and growing at 90.43%
for 5 years, we estimate Free Cash Flow will be
28.4B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.02B.
We will project this out 5 year(s) with a growth rate
of 0.37%.
Estimated Diluted Shares Outstanding: 3.08B.
Step 3: Project Future Stock Price
Using a price ratio of 105.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(28.4B ÷ 3.08B) × 105.98 =
$977
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-16.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $977.
Including dividends, total future value: $977.
Discounted at 10% per
year over 5 years → Fair Value:
$606.
