Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.92B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.91%.
Starting with 4.92B and growing at 23.91%
for 5 years, we estimate Free Cash Flow will be
14.36B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.02B.
We will project this out 5 year(s) with a growth rate
of 2.32%.
Estimated Diluted Shares Outstanding: 1.14B.
Step 3: Project Future Stock Price
Using a price ratio of 8.47, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(14.36B ÷ 1.14B) × 8.47 =
$106
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.68.
Projected over 5 years with a growth rate of
0.85%, dividends add to total shareholder return.
Expected dividends in 5 years:
$23.90042445477972.
Step 5: Discount the Projected Stock Price
Projected stock price: $106.
Including dividends, total future value: $129.9.
Discounted at 10% per
year over 5 years → Fair Value:
$80.
