Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
36.89B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.36%.
Starting with 36.89B and growing at 10.36%
for 5 years, we estimate Free Cash Flow will be
60.39B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.81B.
We will project this out 5 year(s) with a growth rate
of -0.21%.
Estimated Diluted Shares Outstanding: 1.79B.
Step 3: Project Future Stock Price
Using a price ratio of 0.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(60.39B ÷ 1.79B) × 0.61 =
$20
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
-10.99%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.9343444615492971.
Step 5: Discount the Projected Stock Price
Projected stock price: $20.
Including dividends, total future value: $20.93.
Discounted at 10% per
year over 5 years → Fair Value:
$12.
