Historical cheapness: current PE is 30.2× versus the full-history median of 31.8× shown in the valuation table, producing 53.4/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 52.9/100. The model applies a 9.3% 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 32.6× (18-month half-life). The favorable scenario uses 32.5× PE and $8.3 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 +4.7%, operating margin +0.7 percentage points. Free cash flow is 13.9% of revenue. The business score is 64.2/100. 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 $8.27 of EPS and a 32.5× PE, suggesting a share price of about $269.03. Valuation history and outlook inform the PE.

The displayed favorable scenario is 26% upside, or about $268.96.

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 $6.09 of EPS and a 29.1× PE, suggesting a share price of about $177.30 — 17% below today’s price. Valuation history and outlook inform the PE.

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