The score fell 1 point, mainly due to valuation and price changes. Price rose 1.7%, from $800.25 to $813.94. Reported EPS was unchanged, so the higher price reduced valuation support.

The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 35.2× versus the full-history median of 17.2× shown in the valuation table, producing 13.9/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 17.5/100. The model applies a 28.6% 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 19.4× (18-month half-life). The favorable scenario uses 30.5× PE and $32.2 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 +18.4%, earnings +18.3%, operating margin -0.8 percentage points. Free cash flow is 12% of revenue. The business score is 67.4/100. 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 $32.19 of EPS and a 30.5× PE, suggesting a share price of about $983.33. Valuation history and outlook inform the PE.

The displayed favorable scenario is 20.1% upside, or about $983.10.

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 $20.24 of EPS and a 28.7× PE, suggesting a share price of about $580.07 — 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.

Historical cheapness: current PE is 68.7× versus the full-history median of 22.2× shown in the valuation table, producing 7.7/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 7/100. The model applies a -0.1% 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 23.2× (18-month half-life). The favorable scenario uses 60.3× PE and $1.1 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 weak. Over the past year: revenue -2.9%, earnings -68.8%, operating margin -3.9 percentage points. Free cash flow is -0.2% of revenue. The business score is 32.6/100. 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 $1.09 of EPS and a 60.3× PE, suggesting about $65.52 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 $79.05. 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 $0.83 of EPS and a 57.8× PE, suggesting a share price of about $47.74 — 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.