Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
104.17B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
58.7%.
Starting with 104.17B and growing at 58.7%
for 5 years, we estimate Free Cash Flow will be
1,048.7B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 268.66M.
We will project this out 5 year(s) with a growth rate
of -0.18%.
Estimated Diluted Shares Outstanding: 266.25M.
Step 3: Project Future Stock Price
Using a price ratio of 0.12, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,048.7B ÷ 266.25M) × 0.12 =
$472
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.5.
Projected over 5 years with a growth rate of
-1.08%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.433045764517073.
Step 5: Discount the Projected Stock Price
Projected stock price: $472.
Including dividends, total future value: $474.43.
Discounted at 10% per
year over 5 years → Fair Value:
$294.
