Historical cheapness: current PE is 31.1× versus the full-history median of 25.6× shown in the valuation table, producing 37/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 40.1/100. The model applies a 17.5% 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 27.8× (18-month half-life). The favorable scenario uses 29.4× PE and $14.5 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 +17.1%, earnings +23.2%, operating margin +1.5 percentage points. Free cash flow is 13.1% of revenue. The business score is 74.2/100. 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 $14.54 of EPS and a 29.4× PE, suggesting a share price of about $427.15. Valuation history and outlook inform the PE.

The displayed favorable scenario is 20% upside, or about $427.22.

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 $9.79 of EPS and a 26.5× PE, suggesting a share price of about $259.56 — 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.