Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
437.51M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
3.21%.
Starting with 437.51M and growing at 3.21%
for 5 years, we estimate Free Cash Flow will be
512.38M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 151.58M.
We will project this out 5 year(s) with a growth rate
of 2.14%.
Estimated Diluted Shares Outstanding: 168.51M.
Step 3: Project Future Stock Price
Using a price ratio of 59.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(512.38M ÷ 168.51M) × 59.75 =
$181
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.5.
Projected over 5 years with a growth rate of
-1.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.4207663589684394.
Step 5: Discount the Projected Stock Price
Projected stock price: $181.
Including dividends, total future value: $183.42.
Discounted at 10% per
year over 5 years → Fair Value:
$113.
