Historical cheapness: current PE is 15.3× versus the full-history median of 11.1× shown in the valuation table, producing 29.3/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 29.7/100. The model applies a 11.2% 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 13.3× (18-month half-life). The favorable scenario uses 14.6× PE and $27.9 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 +8%, earnings +19.1%, operating margin +2.4 percentage points. The business score is 65/100. 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 $27.93 of EPS and a 14.6× PE, suggesting about $409.04 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 $409.66. 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 $19.62 of EPS and a 13.3× PE, suggesting a share price of about $260.74 — 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.

Historical cheapness: current PE is 19.5× versus the full-history median of 23.3× shown in the valuation table, producing 62/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 65.6/100. The model applies a 21.4% 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 23.4× (18-month half-life). The favorable scenario uses 21.9× 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 strong. Over the past year: revenue +12.6%, earnings +47.8%, operating margin +8.2 percentage points. The business score is 76.3/100. 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 $7.18 of EPS and a 21.9× PE, suggesting a share price of about $157.53. Valuation history and outlook inform the PE.

The displayed favorable scenario is 46.9% upside, or about $157.55.

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 $4.77 of EPS and a 18.5× PE, suggesting a share price of about $88.20 — 18% below today’s price. Valuation history and outlook inform the PE.

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