Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
500.2M
as of Aug 24, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.75%.
Starting with 500.2M and growing at -10.75%
for 5 years, we estimate Free Cash Flow will be
283.26M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 139.35M.
We will project this out 5 year(s) with a growth rate
of -0.61%.
Estimated Diluted Shares Outstanding: 135.15M.
Step 3: Project Future Stock Price
Using a price ratio of 3701.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(283.26M ÷ 135.15M) × 3701.45 =
$7757
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.84.
Projected over 5 years with a growth rate of
9.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.670033848714564.
Step 5: Discount the Projected Stock Price
Projected stock price: $7757.
Including dividends, total future value: $7768.67.
Discounted at 10% per
year over 5 years → Fair Value:
$4823.
