Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
493.2M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.98%.
Starting with 493.2M and growing at -6.98%
for 5 years, we estimate Free Cash Flow will be
343.48M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 154.79M.
We will project this out 5 year(s) with a growth rate
of -0.66%.
Estimated Diluted Shares Outstanding: 149.75M.
Step 3: Project Future Stock Price
Using a price ratio of 14.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(343.48M ÷ 149.75M) × 14.5 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.11.
Projected over 5 years with a growth rate of
-2.34%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.368840645998514.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $52.37.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
