Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
192.85B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.63%.
Starting with 192.85B and growing at 9.63%
for 5 years, we estimate Free Cash Flow will be
305.4B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 345.73M.
We will project this out 5 year(s) with a growth rate
of -1.65%.
Estimated Diluted Shares Outstanding: 318.13M.
Step 3: Project Future Stock Price
Using a price ratio of 0.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(305.4B ÷ 318.13M) × 0.28 =
$268
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-0.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $268.
Including dividends, total future value: $268.
Discounted at 10% per
year over 5 years → Fair Value:
$166.
