Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
319.68M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
7.51%.
Starting with 319.68M and growing at 7.51%
for 5 years, we estimate Free Cash Flow will be
459.15M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.16M.
We will project this out 5 year(s) with a growth rate
of -1.85%.
Estimated Diluted Shares Outstanding: 33.84M.
Step 3: Project Future Stock Price
Using a price ratio of 26.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(459.15M ÷ 33.84M) × 26.53 =
$359
Step 4: Project Future Dividends Paid
Forward dividend per share: $8.88.
Projected over 5 years with a growth rate of
30.49%, dividends add to total shareholder return.
Expected dividends in 5 years:
$86.36266748627723.
Step 5: Discount the Projected Stock Price
Projected stock price: $359.
Including dividends, total future value: $445.36.
Discounted at 10% per
year over 5 years → Fair Value:
$276.
