Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
186.32M
as of Aug 31, 2025.
We will project this out 5 years with a yearly growth
rate of
10.63%.
Starting with 186.32M and growing at 10.63%
for 5 years, we estimate Free Cash Flow will be
308.77M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 43.12M.
We will project this out 5 year(s) with a growth rate
of -0.41%.
Estimated Diluted Shares Outstanding: 42.24M.
Step 3: Project Future Stock Price
Using a price ratio of 12.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(308.77M ÷ 42.24M) × 12.55 =
$91
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $91.
Including dividends, total future value: $91.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
