Historical cheapness: current PE is 25× versus the full-history median of 36.2× shown in the valuation table, producing 73.1/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 71/100. The model applies a 5.6% 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 37.4× (18-month half-life). The favorable scenario uses 27.8× PE and $18.6 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 +9.7%, earnings +26.2%, operating margin +6.3 percentage points. The business score is 72.3/100. 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 $18.64 of EPS and a 27.8× PE, suggesting a share price of about $518.00. Valuation history and outlook inform the PE.

The displayed favorable scenario is 26.1% upside, or about $517.91.

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 $14.06 of EPS and a 24.1× PE, suggesting a share price of about $338.94 — 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.