Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
7.7B
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
30.67%.
Starting with 7.7B and growing at 30.67%
for 5 years, we estimate Free Cash Flow will be
29.33B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.03B.
We will project this out 5 year(s) with a growth rate
of 16.49%.
Estimated Diluted Shares Outstanding: 2.21B.
Step 3: Project Future Stock Price
Using a price ratio of 3.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(29.33B ÷ 2.21B) × 3.13 =
$41
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $41.
Including dividends, total future value: $41.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
