Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
442.23M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
12.11%.
Starting with 442.23M and growing at 12.11%
for 5 years, we estimate Free Cash Flow will be
783.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 262.77M.
We will project this out 5 year(s) with a growth rate
of -0.7%.
Estimated Diluted Shares Outstanding: 253.7M.
Step 3: Project Future Stock Price
Using a price ratio of 27.4, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(783.19M ÷ 253.7M) × 27.4 =
$84
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.3.
Projected over 5 years with a growth rate of
7.33%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.7901692068857236.
Step 5: Discount the Projected Stock Price
Projected stock price: $84.
Including dividends, total future value: $85.79.
Discounted at 10% per
year over 5 years → Fair Value:
$53.
