Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
79.45M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
10.04%.
Starting with 79.45M and growing at 10.04%
for 5 years, we estimate Free Cash Flow will be
128.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 29.98M.
We will project this out 5 year(s) with a growth rate
of -2.49%.
Estimated Diluted Shares Outstanding: 26.43M.
Step 3: Project Future Stock Price
Using a price ratio of 10.48, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(128.2M ÷ 26.43M) × 10.48 =
$50
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.4.
Projected over 5 years with a growth rate of
-0.93%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.838383419667879.
Step 5: Discount the Projected Stock Price
Projected stock price: $50.
Including dividends, total future value: $56.84.
Discounted at 10% per
year over 5 years → Fair Value:
$35.
