Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
543.02M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
9.07%.
Starting with 543.02M and growing at 9.07%
for 5 years, we estimate Free Cash Flow will be
838.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 56.19M.
We will project this out 5 year(s) with a growth rate
of -0.2%.
Estimated Diluted Shares Outstanding: 55.63M.
Step 3: Project Future Stock Price
Using a price ratio of 25.52, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(838.19M ÷ 55.63M) × 25.52 =
$384
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.16.
Projected over 5 years with a growth rate of
15.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.632679312965383.
Step 5: Discount the Projected Stock Price
Projected stock price: $384.
Including dividends, total future value: $406.63.
Discounted at 10% per
year over 5 years → Fair Value:
$252.
