Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
3.65B
as of Aug 31, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 3.65B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
3.65B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 235.96M.
We will project this out 5 year(s) with a growth rate
of -1.49%.
Estimated Diluted Shares Outstanding: 218.89M.
Step 3: Project Future Stock Price
Using a price ratio of 21.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.65B ÷ 218.89M) × 21.52 =
$359
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.04.
Projected over 5 years with a growth rate of
10.48%, dividends add to total shareholder return.
Expected dividends in 5 years:
$45.15978102443059.
Step 5: Discount the Projected Stock Price
Projected stock price: $359.
Including dividends, total future value: $404.16.
Discounted at 10% per
year over 5 years → Fair Value:
$250.
