Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
818M
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.24%.
Starting with 818M and growing at -6.24%
for 5 years, we estimate Free Cash Flow will be
592.71M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 212.7M.
We will project this out 5 year(s) with a growth rate
of -3.92%.
Estimated Diluted Shares Outstanding: 174.15M.
Step 3: Project Future Stock Price
Using a price ratio of 23.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(592.71M ÷ 174.15M) × 23.08 =
$78
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.88.
Projected over 5 years with a growth rate of
-3.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.074136916274703.
Step 5: Discount the Projected Stock Price
Projected stock price: $78.
Including dividends, total future value: $91.07.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
