Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
358M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
2.72%.
Starting with 358M and growing at 2.72%
for 5 years, we estimate Free Cash Flow will be
409.41M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 121.27M.
We will project this out 5 year(s) with a growth rate
of -3.06%.
Estimated Diluted Shares Outstanding: 103.82M.
Step 3: Project Future Stock Price
Using a price ratio of 18.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(409.41M ÷ 103.82M) × 18.89 =
$74
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $74.
Including dividends, total future value: $74.
Discounted at 10% per
year over 5 years → Fair Value:
$45.
