Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
38.58B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
88.36%.
Starting with 38.58B and growing at 88.36%
for 5 years, we estimate Free Cash Flow will be
914.66B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 716.69M.
We will project this out 5 year(s) with a growth rate
of 0.01%.
Estimated Diluted Shares Outstanding: 717.05M.
Step 3: Project Future Stock Price
Using a price ratio of 2.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(914.66B ÷ 717.05M) × 2.8 =
$3571
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
26.52%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.2506500428810594.
Step 5: Discount the Projected Stock Price
Projected stock price: $3571.
Including dividends, total future value: $3573.25.
Discounted at 10% per
year over 5 years → Fair Value:
$2218.
