Historical cheapness: current PE is 32.8× versus the full-history median of 31.7× shown in the valuation table, producing 47.6/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 48.8/100. The model applies a 12.2% 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 31.3× (18-month half-life). The favorable scenario uses 32.2× PE and $22.3 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 +7.2%, earnings +7.6%, operating margin -0.7 percentage points. Free cash flow is 15.8% of revenue. The business score is 61.9/100. 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 $22.34 of EPS and a 32.2× PE, suggesting a share price of about $718.96. Valuation history and outlook inform the PE.

The displayed favorable scenario is 17.9% upside, or about $718.98.

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 $16.16 of EPS and a 27.6× PE, suggesting a share price of about $445.84 — 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.