Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
256.88M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
4%.
Starting with 256.88M and growing at 4%
for 5 years, we estimate Free Cash Flow will be
312.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 190.57M.
We will project this out 5 year(s) with a growth rate
of -2.64%.
Estimated Diluted Shares Outstanding: 166.7M.
Step 3: Project Future Stock Price
Using a price ratio of 17.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(312.53M ÷ 166.7M) × 17.59 =
$32
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.03.
Projected over 5 years with a growth rate of
12.82%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.962616380772603.
Step 5: Discount the Projected Stock Price
Projected stock price: $32.
Including dividends, total future value: $38.96.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
