The score fell 3 points, mainly due to valuation and price changes. Price fell 1.3%, from $172.98 to $170.79.

Valuation and price changes subtracted 3.5 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 27.3× versus the full-history median of 24.4× shown in the valuation table, producing 42.5/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 43.2/100. 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 27.5× (18-month half-life). The favorable scenario uses 28.7× PE and $7.7 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 +18.9%, earnings +15.8%, operating margin -0 percentage points. Free cash flow is 7.6% of revenue. The business score is 67.2/100. 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 $7.70 of EPS and a 28.7× PE, suggesting a share price of about $220.99. Valuation history and outlook inform the PE.

The displayed favorable scenario is 27% upside, or about $220.95.

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 $5.41 of EPS and a 23.6× PE, suggesting a share price of about $127.87 — 27% below today’s price. Valuation history and outlook inform the PE.

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