Historical cheapness: current PE is 23.4× versus the full-history median of 20× shown in the valuation table, producing 39.1/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 40.6/100. The model applies a 13.1% earnings-growth assumption and a 10% annual return hurdle, with positive credit limited by evidence coverage and confidence.

Forward price scenarios use recent PE history separately. Recent history has a separately weighted median of 24.3× (18-month half-life). The favorable scenario uses 24.9× PE and $19.5 projected EPS, informed by growth, margins and earnings-quality checks. This is a model scenario, not an analyst target. A return to the full-history median is not assumed.

Business trends are strong. Over the past year: revenue +9.2%, earnings +31.6%, operating margin +9.7 percentage points. Free cash flow is 26.7% of revenue. The business score is 83.9/100. Growth, margins and cash generation drive the score. Missing or older data receives less weight.

Stronger earnings and valuation could support a higher share price.

Our favorable case uses $19.55 of EPS and a 24.9× PE, suggesting a share price of about $487.58. Valuation history and outlook inform the PE.

The displayed favorable scenario is 29.2% upside, or about $487.54.

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 $13.89 of EPS and a 20× PE, suggesting a share price of about $277.87 — 26% below today’s price. Valuation history and outlook inform the PE.

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