Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
18.47B
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 18.47B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
18.47B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.24B.
We will project this out 5 year(s) with a growth rate
of -0.31%.
Estimated Diluted Shares Outstanding: 1.22B.
Step 3: Project Future Stock Price
Using a price ratio of 79.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(18.47B ÷ 1.22B) × 79.02 =
$1192
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.07.
Projected over 5 years with a growth rate of
2.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$16.459171456004395.
Step 5: Discount the Projected Stock Price
Projected stock price: $1192.
Including dividends, total future value: $1208.46.
Discounted at 10% per
year over 5 years → Fair Value:
$750.
