Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
64.4M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
9.91%.
Starting with 64.4M and growing at 9.91%
for 5 years, we estimate Free Cash Flow will be
103.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 21.53M.
We will project this out 5 year(s) with a growth rate
of -3.91%.
Estimated Diluted Shares Outstanding: 17.64M.
Step 3: Project Future Stock Price
Using a price ratio of 13.29, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(103.29M ÷ 17.64M) × 13.29 =
$77
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.03.
Projected over 5 years with a growth rate of
0.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.252315939265427.
Step 5: Discount the Projected Stock Price
Projected stock price: $77.
Including dividends, total future value: $82.25.
Discounted at 10% per
year over 5 years → Fair Value:
$51.
