Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
279.59M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
9.15%.
Starting with 279.59M and growing at 9.15%
for 5 years, we estimate Free Cash Flow will be
433.16M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 51.66M.
We will project this out 5 year(s) with a growth rate
of -0.73%.
Estimated Diluted Shares Outstanding: 49.8M.
Step 3: Project Future Stock Price
Using a price ratio of 11.95, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(433.16M ÷ 49.8M) × 11.95 =
$103
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.81.
Projected over 5 years with a growth rate of
29.20%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.17136672120587.
Step 5: Discount the Projected Stock Price
Projected stock price: $103.
Including dividends, total future value: $120.17.
Discounted at 10% per
year over 5 years → Fair Value:
$74.
