Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
608.41M
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
12.11%.
Starting with 608.41M and growing at 12.11%
for 5 years, we estimate Free Cash Flow will be
1.08B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 165.69M.
We will project this out 5 year(s) with a growth rate
of 0.09%.
Estimated Diluted Shares Outstanding: 166.44M.
Step 3: Project Future Stock Price
Using a price ratio of 38.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.08B ÷ 166.44M) × 38.59 =
$249
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.35.
Projected over 5 years with a growth rate of
9.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.461403043083914.
Step 5: Discount the Projected Stock Price
Projected stock price: $249.
Including dividends, total future value: $257.46.
Discounted at 10% per
year over 5 years → Fair Value:
$159.
