Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.93B
as of Aug 28, 2025.
We will project this out 5 years with a yearly growth
rate of
82.23%.
Starting with 8.93B and growing at 82.23%
for 5 years, we estimate Free Cash Flow will be
179.43B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.12B.
We will project this out 5 year(s) with a growth rate
of -0.11%.
Estimated Diluted Shares Outstanding: 1.11B.
Step 3: Project Future Stock Price
Using a price ratio of 75.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(179.43B ÷ 1.11B) × 75.94 =
$12242
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.58.
Projected over 5 years with a growth rate of
9.47%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.6360997859284407.
Step 5: Discount the Projected Stock Price
Projected stock price: $12242.
Including dividends, total future value: $12245.64.
Discounted at 10% per
year over 5 years → Fair Value:
$7603.
