Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
153.62M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
6.2%.
Starting with 153.62M and growing at 6.2%
for 5 years, we estimate Free Cash Flow will be
207.52M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.1M.
We will project this out 5 year(s) with a growth rate
of -2.01%.
Estimated Diluted Shares Outstanding: 42.55M.
Step 3: Project Future Stock Price
Using a price ratio of 19.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(207.52M ÷ 42.55M) × 19.87 =
$96
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.21.
Projected over 5 years with a growth rate of
2.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.363286825089914.
Step 5: Discount the Projected Stock Price
Projected stock price: $96.
Including dividends, total future value: $102.36.
Discounted at 10% per
year over 5 years → Fair Value:
$63.
