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In the latest reporting period of Q1'26, the EV/EBITDA ratio for APH reached 23.905. This represents a moderate contraction compared to the peak levels observed in the preceding fiscal periods of FY2025. The overall trend from Q2'23 to Q1'26 shows significant expansion in valuation multiples, rising from a period low of 16.971 in Q3'23 to a peak of 28.217 in Q3'25. While the ratio experienced a consistent upward trajectory through mid-FY2025, the data indicates a recent cooling trend over the last two quarters, with the valuation retreating toward the 24x range.