Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
77.59M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
20.88%.
Starting with 77.59M and growing at 20.88%
for 5 years, we estimate Free Cash Flow will be
200.25M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 53.94M.
We will project this out 5 year(s) with a growth rate
of -2.15%.
Estimated Diluted Shares Outstanding: 48.38M.
Step 3: Project Future Stock Price
Using a price ratio of 32.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(200.25M ÷ 48.38M) × 32.96 =
$136
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.08.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.4.
Step 5: Discount the Projected Stock Price
Projected stock price: $136.
Including dividends, total future value: $136.4.
Discounted at 10% per
year over 5 years → Fair Value:
$84.
