Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
182.82M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
25.41%.
Starting with 182.82M and growing at 25.41%
for 5 years, we estimate Free Cash Flow will be
567.14M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 56.52M.
We will project this out 5 year(s) with a growth rate
of 0.46%.
Estimated Diluted Shares Outstanding: 57.83M.
Step 3: Project Future Stock Price
Using a price ratio of 20.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(567.14M ÷ 57.83M) × 20.25 =
$198
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: $198.
Including dividends, total future value: $198.
Discounted at 10% per
year over 5 years → Fair Value:
$122.
