Historical cheapness: current PE is 29.6× versus the full-history median of 23.5× shown in the valuation table, producing 34.5/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 35.2/100. The model applies a 11.6% 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 30.4× (18-month half-life). The favorable scenario uses 32.5× PE and $25.1 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 +13.8%, earnings +33.2%, operating margin +0.7 percentage points. Free cash flow is 3.5% of revenue. The business score is 67.3/100. 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 $25.08 of EPS and a 32.5× PE, suggesting a share price of about $815.08. Valuation history and outlook inform the PE.

The displayed favorable scenario is 32.4% upside, or about $814.88.

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 $17.52 of EPS and a 25× PE, suggesting a share price of about $438.64 — 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.