Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1,969.4B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.97%.
Starting with 1,969.4B and growing at 12.97%
for 5 years, we estimate Free Cash Flow will be
3,623.8B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.03B.
We will project this out 5 year(s) with a growth rate
of -0.76%.
Estimated Diluted Shares Outstanding: 5.8B.
Step 3: Project Future Stock Price
Using a price ratio of 0.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3,623.8B ÷ 5.8B) × 0.22 =
$137
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $137.
Including dividends, total future value: $137.
Discounted at 10% per
year over 5 years → Fair Value:
$85.
