Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
45.96M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
2.18%.
Starting with 45.96M and growing at 2.18%
for 5 years, we estimate Free Cash Flow will be
51.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 25.75M.
We will project this out 5 year(s) with a growth rate
of 0.09%.
Estimated Diluted Shares Outstanding: 25.87M.
Step 3: Project Future Stock Price
Using a price ratio of 10.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(51.2M ÷ 25.87M) × 10.45 =
$20
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.75.
Projected over 5 years with a growth rate of
2.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.764444011898284.
Step 5: Discount the Projected Stock Price
Projected stock price: $20.
Including dividends, total future value: $39.76.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
