Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
16.17B
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-11.45%.
Starting with 16.17B and growing at -11.45%
for 5 years, we estimate Free Cash Flow will be
8.81B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 929.57M.
We will project this out 5 year(s) with a growth rate
of 1.12%.
Estimated Diluted Shares Outstanding: 982.8M.
Step 3: Project Future Stock Price
Using a price ratio of 0.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.81B ÷ 982.8M) × 0.49 =
$4
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.78.
Projected over 5 years with a growth rate of
-0.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.644275420676447.
Step 5: Discount the Projected Stock Price
Projected stock price: $4.
Including dividends, total future value: $17.64.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
