Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
72.02B
as of Jul 27, 2025.
We will project this out 5 years with a yearly growth
rate of
70.11%.
Starting with 72.02B and growing at 70.11%
for 5 years, we estimate Free Cash Flow will be
1,025.9B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 24.35B.
We will project this out 5 year(s) with a growth rate
of 0.07%.
Estimated Diluted Shares Outstanding: 24.43B.
Step 3: Project Future Stock Price
Using a price ratio of 81.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1,025.9B ÷ 24.43B) × 81.53 =
$3423
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.05.
Projected over 5 years with a growth rate of
13.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.3423518232100042.
Step 5: Discount the Projected Stock Price
Projected stock price: $3423.
Including dividends, total future value: $3423.34.
Discounted at 10% per
year over 5 years → Fair Value:
$2125.
