The score rose 2 points, mainly due to valuation and price changes. Price rose 1.0%, from $153.00 to $154.46.

Valuation and price changes added 2.4 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 36.7× versus the full-history median of 107.3× shown in the valuation table, producing 69.3/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 70/100. The model applies a 44.7% 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 55.1× (18-month half-life). The favorable scenario uses 51.9× PE and $6.7 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 +66.6%, earnings +264.4%, operating margin +20.4 percentage points. Free cash flow is 36.7% of revenue. The business score is 94.4/100. 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 $6.69 of EPS and a 51.9× PE, suggesting a share price of about $347.32. Valuation history and outlook inform the PE.

The displayed favorable scenario is 120.1% upside, or about $347.25.

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 $3.81 of EPS and a 32.1× PE, suggesting a share price of about $122.58 — 22% below today’s price. Valuation history and outlook inform the PE.

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

The score rose 1 point, mainly due to valuation and price changes. Price rose 1.6%, from $93.38 to $94.83.

Valuation and price changes added 0.5 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 24.4× versus the full-history median of 19.9× shown in the valuation table, producing 36.4/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 32.2/100. The model applies a 2.7% 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 15.7× (18-month half-life). The favorable scenario uses 21.1× PE and $4.4 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 +29.1%, earnings -29.8%, operating margin -0.2 percentage points. Free cash flow is 21.3% of revenue. The business score is 65.4/100. 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 $4.42 of EPS and a 21.1× PE, suggesting about $93.34 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 $111.18. 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 $3.29 of EPS and a 20.4× PE, suggesting a share price of about $67.17 — 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.