Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
16.25B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.01%.
Starting with 16.25B and growing at 9.01%
for 5 years, we estimate Free Cash Flow will be
25.02B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.06B.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 3.06B.
Step 3: Project Future Stock Price
Using a price ratio of 8.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(25.02B ÷ 3.06B) × 8.39 =
$68
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
-10.86%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.9377597481120934.
Step 5: Discount the Projected Stock Price
Projected stock price: $68.
Including dividends, total future value: $68.94.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
