Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.45B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.14%.
Starting with 8.45B and growing at 12.14%
for 5 years, we estimate Free Cash Flow will be
14.99B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 683.51M.
We will project this out 5 year(s) with a growth rate
of 0%.
Estimated Diluted Shares Outstanding: 683.51M.
Step 3: Project Future Stock Price
Using a price ratio of 1.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(14.99B ÷ 683.51M) × 1.96 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.64.
Projected over 5 years with a growth rate of
20.35%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.084698600172996.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $47.08.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
