Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
650.4M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.89%.
Starting with 650.4M and growing at -4.89%
for 5 years, we estimate Free Cash Flow will be
506.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 62.13M.
We will project this out 5 year(s) with a growth rate
of -2.52%.
Estimated Diluted Shares Outstanding: 54.69M.
Step 3: Project Future Stock Price
Using a price ratio of 13.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(506.19M ÷ 54.69M) × 13.17 =
$121
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: $121.
Including dividends, total future value: $121.
Discounted at 10% per
year over 5 years → Fair Value:
$75.
