Just when I thought the Rolls-Royce (LSE: RR) share price surely couldn't go any higher, it went and did it again. Rolls-Royce under Tufan Erginbilgic has developed a reputation for setting high targets then beating them, and it doesn't seem inclined to stop. If it falls short of its ambitious targets, or even only slightly beats them, the market reaction could be brutal. With earnings rising rapidly, the forecast P/E for 2026 is a slightly more modest 36.8, which slides to 33.4 for 2027 at today's share price. That's a big slowdown from 35% over the last year, and a staggering 1,205% over five years.