Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
590.4M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
27.28%.
Starting with 590.4M and growing at 27.28%
for 5 years, we estimate Free Cash Flow will be
1.97B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 110.7M.
We will project this out 5 year(s) with a growth rate
of 0.19%.
Estimated Diluted Shares Outstanding: 111.76M.
Step 3: Project Future Stock Price
Using a price ratio of 11.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.97B ÷ 111.76M) × 11.75 =
$207
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.15.
Projected over 5 years with a growth rate of
30.26%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.135136091970294.
Step 5: Discount the Projected Stock Price
Projected stock price: $207.
Including dividends, total future value: $218.14.
Discounted at 10% per
year over 5 years → Fair Value:
$135.
