Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
458.07M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
8.21%.
Starting with 458.07M and growing at 8.21%
for 5 years, we estimate Free Cash Flow will be
679.62M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 51.33M.
We will project this out 5 year(s) with a growth rate
of -1.79%.
Estimated Diluted Shares Outstanding: 46.9M.
Step 3: Project Future Stock Price
Using a price ratio of 39.99, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(679.62M ÷ 46.9M) × 39.99 =
$579
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: $579.
Including dividends, total future value: $579.
Discounted at 10% per
year over 5 years → Fair Value:
$359.
