The score fell 2 points, mainly due to valuation and price changes. Price fell 5.2%, from $211.71 to $200.79.

Valuation and price changes subtracted 1.9 points. The comparison uses the same available inputs on both dates. Displayed changes are rounded to whole points.

Historical cheapness: current PE is 34.8× versus the full-history median of 34.8× shown in the valuation table, producing 50/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 53.1/100. The model applies a 16.5% 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 35.8× (18-month half-life). The favorable scenario uses 36.4× PE and $7.1 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 +11.8%, earnings +24.8%, operating margin +1.3 percentage points. Free cash flow is 12.9% of revenue. The business score is 71.5/100. 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 $7.12 of EPS and a 36.4× PE, suggesting a share price of about $258.81. Valuation history and outlook inform the PE.

The displayed favorable scenario is 30.9% upside, or about $258.76.

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 $4.90 of EPS and a 31.7× PE, suggesting a share price of about $155.30 — 21% below today’s price. Valuation history and outlook inform the PE.

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