Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
763.8M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
16.04%.
Starting with 763.8M and growing at 16.04%
for 5 years, we estimate Free Cash Flow will be
1.61B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 60.57M.
We will project this out 5 year(s) with a growth rate
of -3.68%.
Estimated Diluted Shares Outstanding: 50.22M.
Step 3: Project Future Stock Price
Using a price ratio of 26.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.61B ÷ 50.22M) × 26.7 =
$854
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.3.
Projected over 5 years with a growth rate of
30.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$42.213457556106704.
Step 5: Discount the Projected Stock Price
Projected stock price: $854.
Including dividends, total future value: $896.21.
Discounted at 10% per
year over 5 years → Fair Value:
$556.
