Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
11.55B
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
37.68%.
Starting with 11.55B and growing at 37.68%
for 5 years, we estimate Free Cash Flow will be
57.13B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.8B.
We will project this out 5 year(s) with a growth rate
of 1.91%.
Estimated Diluted Shares Outstanding: 1.98B.
Step 3: Project Future Stock Price
Using a price ratio of 187.92, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(57.13B ÷ 1.98B) × 187.92 =
$5432
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
-13.67%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.020446678444197.
Step 5: Discount the Projected Stock Price
Projected stock price: $5432.
Including dividends, total future value: $5437.02.
Discounted at 10% per
year over 5 years → Fair Value:
$3375.
