Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
230.1M
as of May 25, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.75%.
Starting with 230.1M and growing at -10.75%
for 5 years, we estimate Free Cash Flow will be
130.3M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 139.35M.
We will project this out 5 year(s) with a growth rate
of -0.61%.
Estimated Diluted Shares Outstanding: 135.16M.
Step 3: Project Future Stock Price
Using a price ratio of 3701.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(130.3M ÷ 135.16M) × 3701.81 =
$3568
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.83.
Projected over 5 years with a growth rate of
3.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.051438716255754.
Step 5: Discount the Projected Stock Price
Projected stock price: $3568.
Including dividends, total future value: $3578.05.
Discounted at 10% per
year over 5 years → Fair Value:
$2221.
