Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
72.89B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.52%.
Starting with 72.89B and growing at 16.52%
for 5 years, we estimate Free Cash Flow will be
156.55B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.94B.
We will project this out 5 year(s) with a growth rate
of 0.03%.
Estimated Diluted Shares Outstanding: 1.95B.
Step 3: Project Future Stock Price
Using a price ratio of 0.12, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(156.55B ÷ 1.95B) × 0.12 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.49.
Projected over 5 years with a growth rate of
16.70%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.960576885275595.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $19.96.
Discounted at 10% per
year over 5 years → Fair Value:
$12.
