Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
703.33M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
9.68%.
Starting with 703.33M and growing at 9.68%
for 5 years, we estimate Free Cash Flow will be
1.12B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 161.97M.
We will project this out 5 year(s) with a growth rate
of 0.3%.
Estimated Diluted Shares Outstanding: 164.41M.
Step 3: Project Future Stock Price
Using a price ratio of 43.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.12B ÷ 164.41M) × 43.26 =
$293
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: $293.
Including dividends, total future value: $293.
Discounted at 10% per
year over 5 years → Fair Value:
$181.
