Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
10.7B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
25.54%.
Starting with 10.7B and growing at 25.54%
for 5 years, we estimate Free Cash Flow will be
33.36B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 66.21M.
We will project this out 5 year(s) with a growth rate
of 0.17%.
Estimated Diluted Shares Outstanding: 66.78M.
Step 3: Project Future Stock Price
Using a price ratio of 0.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(33.36B ÷ 66.78M) × 0.49 =
$244
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.04.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.2.
Step 5: Discount the Projected Stock Price
Projected stock price: $244.
Including dividends, total future value: $254.2.
Discounted at 10% per
year over 5 years → Fair Value:
$157.
