Historical cheapness: current PE is 29.8× versus the full-history median of 32.7× shown in the valuation table, producing 56.5/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 55.9/100. The model applies a 9.2% 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 32.4× (18-month half-life). The favorable scenario uses 32× PE and $12.8 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 mixed. Over the past year: revenue +5.8%, earnings +7.6%, operating margin +0.5 percentage points. Free cash flow is 13.2% of revenue. The business score is 63.3/100. 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 $12.76 of EPS and a 32× PE, suggesting a share price of about $408.42. Valuation history and outlook inform the PE.

The displayed favorable scenario is 26.3% upside, or about $408.34.

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 $9.26 of EPS and a 28.6× PE, suggesting a share price of about $264.87 — 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.