The score fell 5 points, mainly due to valuation and price changes. Price fell 1.1%, from $207.00 to $204.69.

Valuation and price changes subtracted 5.4 points. 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 30.3× shown in the valuation table, producing 39.7/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 42.4/100. The model applies a 16% 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 31.2× (18-month half-life). The favorable scenario uses 32.9× PE and $7.2 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 mixed. Over the past year: revenue +13.8%, earnings -4%, operating margin +0.6 percentage points. Free cash flow is 10.8% of revenue. The business score is 64.2/100. 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 $7.16 of EPS and a 32.9× PE, suggesting a share price of about $235.52 — 16% above today’s price. Valuation history and outlook inform the PE.

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 $4.93 of EPS and a 28.8× PE, suggesting a share price of about $141.96 — 30% below today’s price. Valuation history and outlook inform the PE.

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