Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
125.3M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-19.99%.
Starting with 125.3M and growing at -19.99%
for 5 years, we estimate Free Cash Flow will be
41.08M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 22.96M.
We will project this out 5 year(s) with a growth rate
of -1.85%.
Estimated Diluted Shares Outstanding: 20.91M.
Step 3: Project Future Stock Price
Using a price ratio of 25.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(41.08M ÷ 20.91M) × 25.34 =
$49
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: $49.
Including dividends, total future value: $49.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
