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The latest data point for Celsius Holdings (CELH) shows an EV/Sales ratio of 11.34 in Q1'26. This represents a significant compression in valuation compared to the peak levels observed in previous fiscal periods. From Q2'23 to Q1'26, the company's EV/Sales ratio has exhibited substantial volatility, characterized by a sharp climb to a peak of 52.52 in Q4'23 followed by a prolonged downward trend. Despite a few temporary rebounds, such as in Q1'25, the overall trajectory indicates a marked decline in the revenue multiple as the company moves toward the Q1'26 fiscal period.