Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
29.68B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.03%.
Starting with 29.68B and growing at 18.03%
for 5 years, we estimate Free Cash Flow will be
67.99B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 4.87B.
We will project this out 5 year(s) with a growth rate
of 0.08%.
Estimated Diluted Shares Outstanding: 4.89B.
Step 3: Project Future Stock Price
Using a price ratio of 3.03, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(67.99B ÷ 4.89B) × 3.03 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.45.
Projected over 5 years with a growth rate of
10.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.892516147559902.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $44.89.
Discounted at 10% per
year over 5 years → Fair Value:
$27.
