The score fell 10 points, mainly due to valuation and price changes. Price fell 0.8%, from $195.38 to $193.78.

Valuation and price changes subtracted 9.3 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 63× versus the full-history median of 38× shown in the valuation table, producing 20.7/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 27.3/100. The model applies a 31.1% 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 47× (18-month half-life). The favorable scenario uses 53.2× PE and $4.5 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 +32.6%, earnings +24.8%, operating margin -0 percentage points. Free cash flow is 48.9% of revenue. The business score is 78.2/100. 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 $4.47 of EPS and a 53.2× PE, suggesting a share price of about $237.68. Valuation history and outlook inform the PE.

The displayed favorable scenario is 19.1% upside, or about $237.71.

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 $2.77 of EPS and a 46× PE, suggesting a share price of about $127.46 — 36% below today’s price. Valuation history and outlook inform the PE.

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

Historical cheapness: current PE is 751.5× versus the full-history median of 108.8× shown in the valuation table, producing 5.2/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 5.3/100. The model applies a 14.6% 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 108.1× (18-month half-life). The favorable scenario uses 620.1× PE and $0.5 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 mixed. Over the past year: revenue +24.5%, earnings -72.5%, operating margin -7.4 percentage points. Free cash flow is 38.2% of revenue. The business score is 53.3/100. 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 $0.54 of EPS and a 620.1× PE, suggesting about $333.33 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 $380.25. 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 $0.39 of EPS and a 585.3× PE, suggesting a share price of about $226.82 — 31% below today’s price. Valuation history and outlook inform the PE.

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