Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
820.19M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
1.39%.
Starting with 820.19M and growing at 1.39%
for 5 years, we estimate Free Cash Flow will be
878.8M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 529.95M.
We will project this out 5 year(s) with a growth rate
of -2.22%.
Estimated Diluted Shares Outstanding: 473.68M.
Step 3: Project Future Stock Price
Using a price ratio of 44.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(878.8M ÷ 473.68M) × 44.46 =
$82
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.13.
Projected over 5 years with a growth rate of
18.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.569371241990625.
Step 5: Discount the Projected Stock Price
Projected stock price: $82.
Including dividends, total future value: $90.57.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
