Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
184M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.64%.
Starting with 184M and growing at -3.64%
for 5 years, we estimate Free Cash Flow will be
152.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 18.54M.
We will project this out 5 year(s) with a growth rate
of -0.5%.
Estimated Diluted Shares Outstanding: 18.08M.
Step 3: Project Future Stock Price
Using a price ratio of 81.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(152.86M ÷ 18.08M) × 81.09 =
$685
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.73.
Projected over 5 years with a growth rate of
0.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.863485189802157.
Step 5: Discount the Projected Stock Price
Projected stock price: $685.
Including dividends, total future value: $693.86.
Discounted at 10% per
year over 5 years → Fair Value:
$430.
