Historical cheapness: current PE is 32.4× versus the full-history median of 40.5× shown in the valuation table, producing 64.9/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 64/100. The model applies a 8.5% 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 37.6× (18-month half-life). The favorable scenario uses 36.1× PE and $6 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 +10.1%, earnings +16.5%, operating margin +1.1 percentage points. Free cash flow is 15.8% of revenue. The business score is 69.9/100. 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 $5.97 of EPS and a 36.1× PE, suggesting a share price of about $215.57. Valuation history and outlook inform the PE.

The displayed favorable scenario is 31.1% upside, or about $215.52.

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 $4.28 of EPS and a 31.1× PE, suggesting a share price of about $133.13 — 19% below today’s price. Valuation history and outlook inform the PE.

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