As of Q3'26 (2025-12-31), ARM's latest P/B Ratio stands at 14.286, reflecting a notable decrease from the previous quarter's value of 22.924. This marks a significant drop in valuation on a price-to-book basis at the end of the observed period. Over the period from Q4'23 (2023-03-31) to Q3'26 (2025-12-31), ARM's P/B Ratio exhibited considerable volatility. After an initial decline from 15.39 to 11.09, the ratio surged sharply, peaking at 28.449 in Q3'25 before experiencing another pronounced drop to 14.286 by Q3'26. This trend indicates periods of both aggressive valuation expansion and contraction, suggesting shifting investor sentiment and possible changes in underlying fundamentals or market conditions during these quarters.