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The latest data point for AXP's EV/EBITDA ratio, as of Q4'25, stands at 16.476, reflecting a moderate increase from the previous quarter's value of 16.002 in Q3'25 and indicating sustained valuation strength relative to earnings before interest, taxes, depreciation, and amortization. Over the period from Q2'23 to Q4'25, the EV/EBITDA ratio exhibits volatility with an overall upward trend, starting at 11.781 and peaking at 16.476, driven by notable recoveries such as the rise from 9.317 in Q3'23 to 12.855 in Q4'23, followed by fluctuations including a dip to 11.916 in Q1'25 before climbing steadily to the current high. This pattern suggests improving market perceptions of AXP's operational efficiency and growth potential, though the absence of data for Q1'26 limits forward visibility. Key inflection points include the low in Q3'23 and the consistent elevation above 14 since Q3'24, highlighting resilience amid economic cycles.