The latest data point for GOOG's P/B Ratio in Q1'26 stands at 7.27, reflecting a moderate decline of approximately 20% from the peak of 9.10 in Q4'25, yet remaining above the series average of around 6.8 over the period. From Q2'23 to Q1'26, the P/B Ratio exhibits an overall upward trend with notable volatility, starting at 5.68 and climbing to a high of 9.10 in Q4'25 before the recent pullback; key growth phases include a steady rise from 5.68 in Q2'23 to 7.51 in Q2'24, followed by fluctuations such as a dip to 5.46 in Q1'25 and a sharp rebound to 9.10, indicating periods of market optimism interspersed with corrections in valuation multiples.