Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
666.21M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
55%.
Starting with 666.21M and growing at 55%
for 5 years, we estimate Free Cash Flow will be
5.96B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.18M.
We will project this out 5 year(s) with a growth rate
of 0.08%.
Estimated Diluted Shares Outstanding: 37.33M.
Step 3: Project Future Stock Price
Using a price ratio of 25.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.96B ÷ 37.33M) × 25.39 =
$4053
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.64.
Projected over 5 years with a growth rate of
10.83%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.06936103550817.
Step 5: Discount the Projected Stock Price
Projected stock price: $4053.
Including dividends, total future value: $4070.07.
Discounted at 10% per
year over 5 years → Fair Value:
$2527.
