Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
338.1M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.7%.
Starting with 338.1M and growing at -5.7%
for 5 years, we estimate Free Cash Flow will be
252.12M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.38M.
We will project this out 5 year(s) with a growth rate
of -0.38%.
Estimated Diluted Shares Outstanding: 46.49M.
Step 3: Project Future Stock Price
Using a price ratio of 10.48, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(252.12M ÷ 46.49M) × 10.48 =
$56
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.72.
Projected over 5 years with a growth rate of
-1.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.12898631750528.
Step 5: Discount the Projected Stock Price
Projected stock price: $56.
Including dividends, total future value: $69.13.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
