Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
383.36M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
4.08%.
Starting with 383.36M and growing at 4.08%
for 5 years, we estimate Free Cash Flow will be
468.22M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 30.01M.
We will project this out 5 year(s) with a growth rate
of 2.23%.
Estimated Diluted Shares Outstanding: 33.51M.
Step 3: Project Future Stock Price
Using a price ratio of 21.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(468.22M ÷ 33.51M) × 21.21 =
$296
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.88.
Projected over 5 years with a growth rate of
-4.51%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.9205537275682976.
Step 5: Discount the Projected Stock Price
Projected stock price: $296.
Including dividends, total future value: $299.92.
Discounted at 10% per
year over 5 years → Fair Value:
$186.
