Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
568.9M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
1.31%.
Starting with 568.9M and growing at 1.31%
for 5 years, we estimate Free Cash Flow will be
607.15M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 159.07M.
We will project this out 5 year(s) with a growth rate
of -1.87%.
Estimated Diluted Shares Outstanding: 144.75M.
Step 3: Project Future Stock Price
Using a price ratio of 32.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(607.15M ÷ 144.75M) × 32.02 =
$134
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
-2.09%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.8456984750029095.
Step 5: Discount the Projected Stock Price
Projected stock price: $134.
Including dividends, total future value: $136.85.
Discounted at 10% per
year over 5 years → Fair Value:
$84.
