Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
704.1M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
8.62%.
Starting with 704.1M and growing at 8.62%
for 5 years, we estimate Free Cash Flow will be
1.06B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 156.41M.
We will project this out 5 year(s) with a growth rate
of 6.72%.
Estimated Diluted Shares Outstanding: 216.52M.
Step 3: Project Future Stock Price
Using a price ratio of 36.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.06B ÷ 216.52M) × 36.7 =
$180
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: $180.
Including dividends, total future value: $180.
Discounted at 10% per
year over 5 years → Fair Value:
$111.
