Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
390.44M
as of Mar 28, 2025.
We will project this out 5 years with a yearly growth
rate of
6.78%.
Starting with 390.44M and growing at 6.78%
for 5 years, we estimate Free Cash Flow will be
542.01M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 95.84M.
We will project this out 5 year(s) with a growth rate
of -1.43%.
Estimated Diluted Shares Outstanding: 89.18M.
Step 3: Project Future Stock Price
Using a price ratio of 24.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(542.01M ÷ 89.18M) × 24.3 =
$147
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.62.
Projected over 5 years with a growth rate of
2.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.590586831167206.
Step 5: Discount the Projected Stock Price
Projected stock price: $147.
Including dividends, total future value: $155.59.
Discounted at 10% per
year over 5 years → Fair Value:
$96.
