Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
480.22M
as of Aug 31, 2025.
We will project this out 5 years with a yearly growth
rate of
20.38%.
Starting with 480.22M and growing at 20.38%
for 5 years, we estimate Free Cash Flow will be
1.21B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 82.47M.
We will project this out 5 year(s) with a growth rate
of 11.01%.
Estimated Diluted Shares Outstanding: 139.02M.
Step 3: Project Future Stock Price
Using a price ratio of 7.29, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.21B ÷ 139.02M) × 7.29 =
$63
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.12.
Projected over 5 years with a growth rate of
45.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$27.20352638591668.
Step 5: Discount the Projected Stock Price
Projected stock price: $63.
Including dividends, total future value: $90.2.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
