Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
650M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
13.92%.
Starting with 650M and growing at 13.92%
for 5 years, we estimate Free Cash Flow will be
1.25B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 347.67M.
We will project this out 5 year(s) with a growth rate
of 0.17%.
Estimated Diluted Shares Outstanding: 350.63M.
Step 3: Project Future Stock Price
Using a price ratio of 21.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.25B ÷ 350.63M) × 21.15 =
$75
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.86.
Projected over 5 years with a growth rate of
-4.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.818663948757298.
Step 5: Discount the Projected Stock Price
Projected stock price: $75.
Including dividends, total future value: $87.82.
Discounted at 10% per
year over 5 years → Fair Value:
$54.
