Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
562M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
7.91%.
Starting with 562M and growing at 7.91%
for 5 years, we estimate Free Cash Flow will be
822.33M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 140.23M.
We will project this out 5 year(s) with a growth rate
of 1.77%.
Estimated Diluted Shares Outstanding: 153.09M.
Step 3: Project Future Stock Price
Using a price ratio of 25.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(822.33M ÷ 153.09M) × 25.09 =
$134
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.5.
Projected over 5 years with a growth rate of
-5.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.377644389442333.
Step 5: Discount the Projected Stock Price
Projected stock price: $134.
Including dividends, total future value: $149.38.
Discounted at 10% per
year over 5 years → Fair Value:
$92.
