Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.33B
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
12.05%.
Starting with 1.33B and growing at 12.05%
for 5 years, we estimate Free Cash Flow will be
2.36B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 148.43M.
We will project this out 5 year(s) with a growth rate
of -1.54%.
Estimated Diluted Shares Outstanding: 137.35M.
Step 3: Project Future Stock Price
Using a price ratio of 16.19, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.36B ÷ 137.35M) × 16.19 =
$277
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.81.
Projected over 5 years with a growth rate of
2.34%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.886405876999921.
Step 5: Discount the Projected Stock Price
Projected stock price: $277.
Including dividends, total future value: $291.89.
Discounted at 10% per
year over 5 years → Fair Value:
$181.
