Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
28.61B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-23.5%.
Starting with 28.61B and growing at -23.5%
for 5 years, we estimate Free Cash Flow will be
7.5B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.7B.
We will project this out 5 year(s) with a growth rate
of -1.87%.
Estimated Diluted Shares Outstanding: 1.55B.
Step 3: Project Future Stock Price
Using a price ratio of 1.79, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.5B ÷ 1.55B) × 1.79 =
$8
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.52.
Projected over 5 years with a growth rate of
2.37%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.058335605622545.
Step 5: Discount the Projected Stock Price
Projected stock price: $8.
Including dividends, total future value: $16.06.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
