As of Q2'26 (2025-09-30), BABA's latest P/B Ratio stands at 2.511, marking the highest value observed in the presented period. This represents a notable increase from the previous quarter's value of 2.22. From Q3'23 (2022-12-31) to Q2'26 (2025-09-30), the P/B Ratio for BABA exhibited a generally upward trend with some fluctuations. After a period of decline reaching a low of 1.317 in Q3'24, the ratio began to recover steadily, accelerating in the last few quarters and nearly doubling from its recent low. This suggests improving market sentiment or valuation relative to book value over the analyzed timeframe.