Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
261.75M
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
17.95%.
Starting with 261.75M and growing at 17.95%
for 5 years, we estimate Free Cash Flow will be
597.56M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.66M.
We will project this out 5 year(s) with a growth rate
of -5.09%.
Estimated Diluted Shares Outstanding: 25.92M.
Step 3: Project Future Stock Price
Using a price ratio of 8.66, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(597.56M ÷ 25.92M) × 8.66 =
$199
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.62.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.100000000000001.
Step 5: Discount the Projected Stock Price
Projected stock price: $199.
Including dividends, total future value: $207.1.
Discounted at 10% per
year over 5 years → Fair Value:
$128.
