Historical cheapness: current PE is 10.3× versus the full-history median of 10.4× shown in the valuation table, producing 50.8/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 46.5/100. The model applies a 3.3% 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 11.2× (18-month half-life). The favorable scenario uses 10.6× PE and $5.2 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 +5.9%, earnings +38.2%, operating margin +8.5 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 $5.24 of EPS and a 10.6× PE, suggesting a share price of about $55.39 — 18% above today’s price. Valuation history and outlook inform the PE.

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 $3.55 of EPS and a 8.9× PE, suggesting a share price of about $31.69 — 33% below today’s price. Valuation history and outlook inform the PE.

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