Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
534M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
5.54%.
Starting with 534M and growing at 5.54%
for 5 years, we estimate Free Cash Flow will be
699.24M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 65.33M.
We will project this out 5 year(s) with a growth rate
of -4.58%.
Estimated Diluted Shares Outstanding: 51.68M.
Step 3: Project Future Stock Price
Using a price ratio of 34.18, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(699.24M ÷ 51.68M) × 34.18 =
$462
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.13.
Projected over 5 years with a growth rate of
5.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.158026926889406.
Step 5: Discount the Projected Stock Price
Projected stock price: $462.
Including dividends, total future value: $474.16.
Discounted at 10% per
year over 5 years → Fair Value:
$294.
