Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
21.66B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.91%.
Starting with 21.66B and growing at 9.91%
for 5 years, we estimate Free Cash Flow will be
34.73B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.68B.
We will project this out 5 year(s) with a growth rate
of -0.07%.
Estimated Diluted Shares Outstanding: 15.63B.
Step 3: Project Future Stock Price
Using a price ratio of 2.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(34.73B ÷ 15.63B) × 2.68 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-14.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $5.
Discounted at 10% per
year over 5 years → Fair Value:
$3.
