Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
291.28B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.63%.
Starting with 291.28B and growing at 15.63%
for 5 years, we estimate Free Cash Flow will be
602.1B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 918.52M.
We will project this out 5 year(s) with a growth rate
of -0.67%.
Estimated Diluted Shares Outstanding: 888.16M.
Step 3: Project Future Stock Price
Using a price ratio of 0.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(602.1B ÷ 888.16M) × 0.52 =
$352
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.58.
Projected over 5 years with a growth rate of
-7.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.650050128320522.
Step 5: Discount the Projected Stock Price
Projected stock price: $352.
Including dividends, total future value: $362.65.
Discounted at 10% per
year over 5 years → Fair Value:
$225.
