Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
20.88M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
7.8%.
Starting with 20.88M and growing at 7.8%
for 5 years, we estimate Free Cash Flow will be
30.4M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.42M.
We will project this out 5 year(s) with a growth rate
of -0.48%.
Estimated Diluted Shares Outstanding: 9.19M.
Step 3: Project Future Stock Price
Using a price ratio of 21.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(30.4M ÷ 9.19M) × 21.94 =
$72
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.55.
Projected over 5 years with a growth rate of
2.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.291834131967809.
Step 5: Discount the Projected Stock Price
Projected stock price: $72.
Including dividends, total future value: $80.29.
Discounted at 10% per
year over 5 years → Fair Value:
$49.
