Historical cheapness: current PE is 22.8× versus the full-history median of 30.2× shown in the valuation table, producing 68.5/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 66.4/100. The model applies a 6.2% 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 24× (18-month half-life). The favorable scenario uses 24× PE and $4.7 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 +8.6%, earnings 0%, operating margin -0.4 percentage points. Free cash flow is 21.5% of revenue. The business score is 63.4/100. 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 $4.68 of EPS and a 24× PE, suggesting a share price of about $112.58. Valuation history and outlook inform the PE.

The displayed favorable scenario is 20.4% upside, or about $112.56.

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 $3.53 of EPS and a 21.2× PE, suggesting a share price of about $74.84 — 20% below today’s price. Valuation history and outlook inform the PE.

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