Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
234.1M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
8.8%.
Starting with 234.1M and growing at 8.8%
for 5 years, we estimate Free Cash Flow will be
356.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.28M.
We will project this out 5 year(s) with a growth rate
of 7.68%.
Estimated Diluted Shares Outstanding: 48.18M.
Step 3: Project Future Stock Price
Using a price ratio of 6.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(356.9M ÷ 48.18M) × 6.89 =
$51
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.97.
Projected over 5 years with a growth rate of
11.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.020805426897748.
Step 5: Discount the Projected Stock Price
Projected stock price: $51.
Including dividends, total future value: $64.02.
Discounted at 10% per
year over 5 years → Fair Value:
$39.
