The score rose 1 point, mainly due to valuation and price changes. Price fell 3.4%, from $287.48 to $277.62. Reported EPS was unchanged, so the lower price improved valuation support.

Valuation and price changes added 0.7 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Estimated operating-earnings valuation: current PE is 36.6x versus 32.6x in comparable estimated history. The model caps earnings at operating profit after interest, assuming proportional tax and per-share effects. This is an estimate, not a verified investment-gain adjustment.

Reported EPS and PE remain in the valuation table. The same estimate is applied to historical earnings and eligible price scenarios. Its contribution to the score is limited by the available evidence; it does not identify all non-recurring items. Comparable history: 109 weeks.

Business trends are mixed. Over the past year: revenue +6.7%, operating margin -7.7 percentage points. Free cash flow is 22.7% of revenue. The business score is 51.2/100. Growth, margins and cash generation drive the score. Missing or older data receives less weight.

The earnings calculation and the displayed scenario are different.

The earnings case uses $8.62 of EPS and a 35.1× PE, suggesting about $302.35 before the minimum is applied. Valuation history and outlook inform the PE.

The model applies a 15% minimum upside scenario, so the card shows +15%, or about $308.50. That adjusted price does not come from the EPS × PE calculation above.

This is a scenario based on our model, not a forecast or probability.

Weaker than expected earnings could put pressure on the share price.

Our downside case uses $6.17 of EPS and a 32.2× PE, suggesting a share price of about $198.67 — 29% below today’s price. Valuation history and outlook inform the PE.

This is a scenario based on our model, not a forecast or probability.

Valuation stays neutral because earnings are difficult to compare across periods. Business trends, outlook and financial risk still contribute to the overall score.

Business trends are strong. Over the past year: revenue +52.5%, operating margin +15 percentage points. The business score is 76.8/100. Growth, margins and cash generation drive the score. Missing or older data receives less weight.

Business trends and outlook support upside. Price history provides the reference because earnings are difficult to compare.

The calculation starts with the stock’s typical weekly price movements, adjusted for business performance and outlook. Unusually large jumps have less influence. The result is 67.9% upside, or about $105.69.

This is a scenario based on our model, not a forecast or probability.

Historical price swings are the main risk driver, even without a sharp profit decline.

The stock’s historical price swings drive this figure; the separate operating stress is 28.2%. Price history and operating stress provide the reference because comparable earnings do not support a future PE target. Operating stress reflects revenue, earnings, margins, outlook and relevant debt exposure. The larger stress gives 55.6% downside, or about $27.95, with a 15% minimum.

This is a scenario based on our model, not a forecast or probability.