Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
278.66M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
9.84%.
Starting with 278.66M and growing at 9.84%
for 5 years, we estimate Free Cash Flow will be
445.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 257.53M.
We will project this out 5 year(s) with a growth rate
of -3.1%.
Estimated Diluted Shares Outstanding: 220.01M.
Step 3: Project Future Stock Price
Using a price ratio of 16.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(445.53M ÷ 220.01M) × 16.31 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.47.
Projected over 5 years with a growth rate of
19.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.44488885219991.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $52.44.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
