Using this company's projected operating activities, is this firm over valued, fairly valued, or under valued?

Operating Activities	2020F	2021F	2022F	2023F	2024F
Net income	481,947	580,331	625,319	671,709	719,797
Depreciation	90,798	95,695	100,630	105,819	111,277
Amortization of acquisition intangibles	24,398	24,868	25,115	25,130	24,995
Other amortization	10,214	10,069	10,186	10,273	10,149
Amortization of debt issuance costs	10,238	10,563	10,241	10,203	10,435
Stock compensation expense	18,378	18,378	18,378	18,378	18,378
Deferred taxes	-4,402	-4,402	-4,402	-4,402	-4,402
Impairment Intangibles	40,638	40,638	-	-	-
Other adjustments	18,518	18,518	18,518	18,518	18,518
Changes in Assets and Liabilities:
Accounts receivable (increase)/decrease	-517,607	74,666	277,895	-50,554	-53,161
Inventories (increase)/decrease	-121,925	-68,586	-222,029	-119,564	-125,730
Other assets (increase)/decrease	3,872	-8,807	-9,261	-9,738	-10,241
Accounts payable increase/(decrease)	-40,021	31,083	48,997	51,524	54,181
Accrued pension & postretirement benefits increase/(decrease)	-38,636	-38,636	-7,434	-7,434	-7,434
Accrued liabilities & other liabilities increase/(decrease)	37,206	37,206	-39,063	-39,063	-39,063
Net cash flows from operating activities	13,616	821,584	853,091	680,800	727,700