Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
13.16M
as of Aug 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.76%.
Starting with 13.16M and growing at -10.76%
for 5 years, we estimate Free Cash Flow will be
7.45M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.13M.
We will project this out 5 year(s) with a growth rate
of -1.24%.
Estimated Diluted Shares Outstanding: 2.94M.
Step 3: Project Future Stock Price
Using a price ratio of 20.86, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.45M ÷ 2.94M) × 20.86 =
$52
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: $52.
Including dividends, total future value: $52.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
