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As of Q4'25, GOOGL's EV/EBITDA ratio has surged dramatically to 105.96, representing a significant spike compared to previous quarters. This latest data point marks an extraordinary increase from Q3'25, where the ratio was 19.84, indicating a sharp deviation from the prior trend. From Q1'23 to Q3'25, the EV/EBITDA ratio for GOOGL generally fluctuated within the 13–20 range, displaying moderate volatility but no extreme outliers. The most notable trend is the sudden and substantial jump in Q4'25, which breaks the previously observed pattern of relative stability and suggests a major shift in valuation or underlying financial performance during that quarter. This area chart, covering Q1'23 to Q4'25, highlights a stable-to-volatile transition, with the Q4'25 value standing out as a significant anomaly.