Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
337.5B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.01%.
Starting with 337.5B and growing at 17.01%
for 5 years, we estimate Free Cash Flow will be
740.26B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.66B.
We will project this out 5 year(s) with a growth rate
of -0.85%.
Estimated Diluted Shares Outstanding: 1.59B.
Step 3: Project Future Stock Price
Using a price ratio of 0.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(740.26B ÷ 1.59B) × 0.07 =
$32
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.02.
Projected over 5 years with a growth rate of
2.41%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.412851237450657.
Step 5: Discount the Projected Stock Price
Projected stock price: $32.
Including dividends, total future value: $37.41.
Discounted at 10% per
year over 5 years → Fair Value:
$23.
