Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.54B
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
11.38%.
Starting with 1.54B and growing at 11.38%
for 5 years, we estimate Free Cash Flow will be
2.64B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 363.51M.
We will project this out 5 year(s) with a growth rate
of -0.08%.
Estimated Diluted Shares Outstanding: 362.06M.
Step 3: Project Future Stock Price
Using a price ratio of 17.47, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.64B ÷ 362.06M) × 17.47 =
$127
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.12.
Projected over 5 years with a growth rate of
-14.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.152518083226392.
Step 5: Discount the Projected Stock Price
Projected stock price: $127.
Including dividends, total future value: $134.15.
Discounted at 10% per
year over 5 years → Fair Value:
$83.
