Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.19B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
85.79%.
Starting with 1.19B and growing at 85.79%
for 5 years, we estimate Free Cash Flow will be
26.43B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 856.62M.
We will project this out 5 year(s) with a growth rate
of -0.68%.
Estimated Diluted Shares Outstanding: 827.89M.
Step 3: Project Future Stock Price
Using a price ratio of 37.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(26.43B ÷ 827.89M) × 37.68 =
$1202
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.4.
Projected over 5 years with a growth rate of
-0.93%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.838383419667879.
Step 5: Discount the Projected Stock Price
Projected stock price: $1202.
Including dividends, total future value: $1208.84.
Discounted at 10% per
year over 5 years → Fair Value:
$750.
