Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.91B
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
15.52%.
Starting with 1.91B and growing at 15.52%
for 5 years, we estimate Free Cash Flow will be
3.92B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 56.35M.
We will project this out 5 year(s) with a growth rate
of 0.54%.
Estimated Diluted Shares Outstanding: 57.89M.
Step 3: Project Future Stock Price
Using a price ratio of 42.62, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.92B ÷ 57.89M) × 42.62 =
$2886
Step 4: Project Future Dividends Paid
Forward dividend per share: $165.
Projected over 5 years with a growth rate of
19.26%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1281.4184156403564.
Step 5: Discount the Projected Stock Price
Projected stock price: $2886.
Including dividends, total future value: $4167.42.
Discounted at 10% per
year over 5 years → Fair Value:
$2587.
