Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.13B
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
16.47%.
Starting with 1.13B and growing at 16.47%
for 5 years, we estimate Free Cash Flow will be
2.42B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 192.49M.
We will project this out 5 year(s) with a growth rate
of 0.27%.
Estimated Diluted Shares Outstanding: 195.11M.
Step 3: Project Future Stock Price
Using a price ratio of 31.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.42B ÷ 195.11M) × 31.52 =
$390
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.35.
Projected over 5 years with a growth rate of
-19.24%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.748234305561299.
Step 5: Discount the Projected Stock Price
Projected stock price: $390.
Including dividends, total future value: $402.75.
Discounted at 10% per
year over 5 years → Fair Value:
$250.
