As of Q4'25, the latest EV/Sales ratio for CPNG stands at -2.33, marking a significant shift from previous quarters. This negative value indicates a notable change in the company's valuation relative to its sales, which may reflect a major event or adjustment in market perception. From Q1'23 to Q3'25, the EV/Sales ratio generally fluctuated between 4.05 and 6.12, showing periods of both moderate growth and decline but remaining positive and relatively stable overall. The ratio peaked at 6.12 in Q2'25 before dropping slightly in Q3'25 and then turning sharply negative in Q4'25. This abrupt reversal suggests a significant inflection point, possibly due to a sudden change in enterprise value, sales performance, or both, and warrants further investigation into the underlying drivers during this period. The data covers the period from Q1'23 to Q4'25.