The score rose 12 points, mainly due to valuation and price changes. Price fell 3.0%, from $266.43 to $258.51. Reported EPS was unchanged, so the lower price improved valuation support.

Valuation and price changes added 11.9 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 40.1x versus 45.8x 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: 28 weeks.

Business trends are mixed. Over the past year: revenue +15.8%, operating margin +0.7 percentage points. Free cash flow is -1.5% of revenue. The business score is 59.9/100. 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 $8.67 of EPS and a 41× PE, suggesting a share price of about $355.63. Valuation history and outlook inform the PE.

The displayed favorable scenario is 38.5% upside, or about $355.64.

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 $5.66 of EPS and a 37.7× PE, suggesting a share price of about $213.23 — 27% below today’s price. Valuation history and outlook inform the PE.

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

The score fell 1 point, mainly due to business results and financial strength. Price fell 16.7%, from $120.81 to $100.61. Reported annual EPS changed from $12.35 to $12.17.

Business results and financial strength subtracted 0.4 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 8.1× versus the full-history median of 40.8× shown in the valuation table, producing 94.4/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 93.3/100. The model applies a -20.2% 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 19× (18-month half-life). The favorable scenario uses 9.9× PE and $10.8 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 mixed. Over the past year: revenue +1.7%, earnings -17.3%, operating margin -5.1 percentage points. Free cash flow is 12.2% of revenue. The business score is 43.4/100. Growth, margins and cash generation drive the score. Missing or older data receives less weight.

A depressed valuation offers recovery potential if earnings stabilize. A recovery is not yet confirmed by operating results. Over the past year, revenue +1.7% and operating margin -5.1 percentage points.

This recovery case holds projected earnings at $9.72 per share. A 13.6× PE suggests $131.74, or 33.1% upside. The lower to middle historical valuation range sets the target, with typical price movements limiting the rebound. Peak profits and valuations are not required.

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 $7.63 of EPS and a 7.5× PE, suggesting a share price of about $57.19 — 42% below today’s price. Valuation history and outlook inform the PE.

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