Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.26B
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
36.59%.
Starting with 1.26B and growing at 36.59%
for 5 years, we estimate Free Cash Flow will be
6B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 237.55M.
We will project this out 5 year(s) with a growth rate
of -0.97%.
Estimated Diluted Shares Outstanding: 226.25M.
Step 3: Project Future Stock Price
Using a price ratio of 7.44, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(6B ÷ 226.25M) × 7.44 =
$197
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
26.97%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $197.
Including dividends, total future value: $197.
Discounted at 10% per
year over 5 years → Fair Value:
$122.
