Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
92.74M
as of May 31, 2025.
We will project this out 5 years with a yearly growth
rate of
5.22%.
Starting with 92.74M and growing at 5.22%
for 5 years, we estimate Free Cash Flow will be
119.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 30.75M.
We will project this out 5 year(s) with a growth rate
of -0.11%.
Estimated Diluted Shares Outstanding: 30.59M.
Step 3: Project Future Stock Price
Using a price ratio of 121.48, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(119.6M ÷ 30.59M) × 121.48 =
$475
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: $475.
Including dividends, total future value: $475.
Discounted at 10% per
year over 5 years → Fair Value:
$294.
