Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.09B
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
40.25%.
Starting with 1.09B and growing at 40.25%
for 5 years, we estimate Free Cash Flow will be
5.94B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 208.12M.
We will project this out 5 year(s) with a growth rate
of -4.4%.
Estimated Diluted Shares Outstanding: 166.19M.
Step 3: Project Future Stock Price
Using a price ratio of 13.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.94B ÷ 166.19M) × 13.13 =
$468
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.8.
Projected over 5 years with a growth rate of
26.66%, dividends add to total shareholder return.
Expected dividends in 5 years:
$16.249545515158722.
Step 5: Discount the Projected Stock Price
Projected stock price: $468.
Including dividends, total future value: $484.25.
Discounted at 10% per
year over 5 years → Fair Value:
$300.
