Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
183.79M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.39%.
Starting with 183.79M and growing at -2.39%
for 5 years, we estimate Free Cash Flow will be
162.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 34.65M.
We will project this out 5 year(s) with a growth rate
of -2.23%.
Estimated Diluted Shares Outstanding: 30.96M.
Step 3: Project Future Stock Price
Using a price ratio of 22.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(162.86M ÷ 30.96M) × 22.78 =
$119
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.88.
Projected over 5 years with a growth rate of
2.52%, dividends add to total shareholder return.
Expected dividends in 5 years:
$20.645396294914985.
Step 5: Discount the Projected Stock Price
Projected stock price: $119.
Including dividends, total future value: $139.65.
Discounted at 10% per
year over 5 years → Fair Value:
$86.
