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As of Q4'25, Amazon's EV/Sales ratio stands at 11.89, reflecting a decrease from the previous quarter's peak of 14.87. This latest data point indicates a recent pullback after a period of sustained growth in the company's valuation relative to its sales. From Q1'23 to Q4'25, the EV/Sales ratio has generally trended upward, rising from 9.22 to a high of 14.87 in Q3'25 before the recent decline. The chart shows some volatility, with notable increases in Q2'23, Q1'24, and Q2-Q3'25, suggesting periods of heightened investor optimism. Despite the recent dip, the overall trend over the observed period is positive, indicating expanding valuation multiples for Amazon.