Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
18.04B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
65.7%.
Starting with 18.04B and growing at 65.7%
for 5 years, we estimate Free Cash Flow will be
225.38B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.44B.
We will project this out 5 year(s) with a growth rate
of -0.24%.
Estimated Diluted Shares Outstanding: 6.37B.
Step 3: Project Future Stock Price
Using a price ratio of 3.24, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(225.38B ÷ 6.37B) × 3.24 =
$114
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.67.
Projected over 5 years with a growth rate of
31.78%, dividends add to total shareholder return.
Expected dividends in 5 years:
$16.64601315505297.
Step 5: Discount the Projected Stock Price
Projected stock price: $114.
Including dividends, total future value: $130.65.
Discounted at 10% per
year over 5 years → Fair Value:
$81.
