Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.17B
as of Aug 31, 2025.
We will project this out 5 years with a yearly growth
rate of
33.71%.
Starting with 1.17B and growing at 33.71%
for 5 years, we estimate Free Cash Flow will be
5.01B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 107.32M.
We will project this out 5 year(s) with a growth rate
of -6.51%.
Estimated Diluted Shares Outstanding: 76.65M.
Step 3: Project Future Stock Price
Using a price ratio of 29.97, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.01B ÷ 76.65M) × 29.97 =
$1958
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.4.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.7321080885044355.
Step 5: Discount the Projected Stock Price
Projected stock price: $1958.
Including dividends, total future value: $1959.73.
Discounted at 10% per
year over 5 years → Fair Value:
$1216.
