Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
198.91B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-7.77%.
Starting with 198.91B and growing at -7.77%
for 5 years, we estimate Free Cash Flow will be
132.74B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.8B.
We will project this out 5 year(s) with a growth rate
of -2.08%.
Estimated Diluted Shares Outstanding: 1.62B.
Step 3: Project Future Stock Price
Using a price ratio of 0.24, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(132.74B ÷ 1.62B) × 0.24 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-9.76%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $19.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
