Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
263.56M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
2.39%.
Starting with 263.56M and growing at 2.39%
for 5 years, we estimate Free Cash Flow will be
296.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 55.68M.
We will project this out 5 year(s) with a growth rate
of 0.33%.
Estimated Diluted Shares Outstanding: 56.6M.
Step 3: Project Future Stock Price
Using a price ratio of 18.84, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(296.6M ÷ 56.6M) × 18.84 =
$98
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.23.
Projected over 5 years with a growth rate of
-26.01%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.959623930141245.
Step 5: Discount the Projected Stock Price
Projected stock price: $98.
Including dividends, total future value: $107.96.
Discounted at 10% per
year over 5 years → Fair Value:
$67.
