Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
782.44M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
8.5%.
Starting with 782.44M and growing at 8.5%
for 5 years, we estimate Free Cash Flow will be
1.18B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 121.48M.
We will project this out 5 year(s) with a growth rate
of 0.41%.
Estimated Diluted Shares Outstanding: 123.99M.
Step 3: Project Future Stock Price
Using a price ratio of 52.92, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.18B ÷ 123.99M) × 52.92 =
$502
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.34.
Projected over 5 years with a growth rate of
7.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.0383231450085044.
Step 5: Discount the Projected Stock Price
Projected stock price: $502.
Including dividends, total future value: $504.04.
Discounted at 10% per
year over 5 years → Fair Value:
$312.
