Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
45.67M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-9%.
Starting with 45.67M and growing at -9%
for 5 years, we estimate Free Cash Flow will be
28.5M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 42.69M.
We will project this out 5 year(s) with a growth rate
of 4.54%.
Estimated Diluted Shares Outstanding: 53.3M.
Step 3: Project Future Stock Price
Using a price ratio of 36.88, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(28.5M ÷ 53.3M) × 36.88 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $19.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
