Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
2.88B
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
10.83%.
Starting with 2.88B and growing at 10.83%
for 5 years, we estimate Free Cash Flow will be
4.82B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 295.48M.
We will project this out 5 year(s) with a growth rate
of -1.89%.
Estimated Diluted Shares Outstanding: 268.59M.
Step 3: Project Future Stock Price
Using a price ratio of 20.91, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.82B ÷ 268.59M) × 20.91 =
$375
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.43.
Projected over 5 years with a growth rate of
7.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$20.745234851242262.
Step 5: Discount the Projected Stock Price
Projected stock price: $375.
Including dividends, total future value: $395.75.
Discounted at 10% per
year over 5 years → Fair Value:
$245.
