Historical cheapness: current PE is 39.7× versus the full-history median of 18.5× shown in the valuation table, producing 12.8/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 14.8/100. The model applies a 22.6% 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 33.6× (18-month half-life). The favorable scenario uses 38× PE and $10.6 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 +17.8%, earnings +55.5%, operating margin +0.2 percentage points. Free cash flow is 4.5% of revenue. The business score is 69.2/100. 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 $10.62 of EPS and a 38× PE, suggesting a share price of about $403.46. Valuation history and outlook inform the PE.

The displayed favorable scenario is 26.8% upside, or about $403.33.

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 $6.86 of EPS and a 30.8× PE, suggesting a share price of about $211.48 — 34% below today’s price. Valuation history and outlook inform the PE.

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