Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
978.2M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
16.4%.
Starting with 978.2M and growing at 16.4%
for 5 years, we estimate Free Cash Flow will be
2.09B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 222.42M.
We will project this out 5 year(s) with a growth rate
of -2.49%.
Estimated Diluted Shares Outstanding: 196.07M.
Step 3: Project Future Stock Price
Using a price ratio of 14.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.09B ÷ 196.07M) × 14.54 =
$155
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: $155.
Including dividends, total future value: $155.
Discounted at 10% per
year over 5 years → Fair Value:
$96.
