Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
5.32B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.11%.
Starting with 5.32B and growing at 16.11%
for 5 years, we estimate Free Cash Flow will be
11.23B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.1B.
We will project this out 5 year(s) with a growth rate
of 9.27%.
Estimated Diluted Shares Outstanding: 1.71B.
Step 3: Project Future Stock Price
Using a price ratio of 83.48, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(11.23B ÷ 1.71B) × 83.48 =
$547
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.25.
Projected over 5 years with a growth rate of
-6.33%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.307393862925671.
Step 5: Discount the Projected Stock Price
Projected stock price: $547.
Including dividends, total future value: $552.31.
Discounted at 10% per
year over 5 years → Fair Value:
$342.
