Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.88B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
70.22%.
Starting with 8.88B and growing at 70.22%
for 5 years, we estimate Free Cash Flow will be
126.85B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.55B.
We will project this out 5 year(s) with a growth rate
of 3.72%.
Estimated Diluted Shares Outstanding: 1.86B.
Step 3: Project Future Stock Price
Using a price ratio of 37.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(126.85B ÷ 1.86B) × 37.28 =
$2541
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.12.
Projected over 5 years with a growth rate of
2.35%, dividends add to total shareholder return.
Expected dividends in 5 years:
$21.831663957620098.
Step 5: Discount the Projected Stock Price
Projected stock price: $2541.
Including dividends, total future value: $2562.83.
Discounted at 10% per
year over 5 years → Fair Value:
$1591.
