Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
179.63M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.35%.
Starting with 179.63M and growing at -10.35%
for 5 years, we estimate Free Cash Flow will be
104.03M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 167.9M.
We will project this out 5 year(s) with a growth rate
of -0.31%.
Estimated Diluted Shares Outstanding: 165.31M.
Step 3: Project Future Stock Price
Using a price ratio of 52.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(104.03M ÷ 165.31M) × 52.61 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.4.
Projected over 5 years with a growth rate of
-35.94%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.6568970801687304.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $33.66.
Discounted at 10% per
year over 5 years → Fair Value:
$20.
