Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.36B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
107.91%.
Starting with 1.36B and growing at 107.91%
for 5 years, we estimate Free Cash Flow will be
52.72B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 57.26M.
We will project this out 5 year(s) with a growth rate
of -30.05%.
Estimated Diluted Shares Outstanding: 9.59M.
Step 3: Project Future Stock Price
Using a price ratio of 5.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(52.72B ÷ 9.59M) × 5.13 =
$28205
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.86.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$39.300000000000004.
Step 5: Discount the Projected Stock Price
Projected stock price: $28205.
Including dividends, total future value: $28244.3.
Discounted at 10% per
year over 5 years → Fair Value:
$17537.
