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As of Q4'25 (2025-12-28), Johnson & Johnson's EV/EBITDA ratio stands at 14.826, reflecting a moderate increase from the previous quarter's value of 12.377. This latest figure suggests a continued upward movement in the company's valuation relative to its EBITDA. Over the period from Q1'23 to Q4'25, the EV/EBITDA ratio has exhibited significant volatility. The ratio started at a high of 19.898 in Q1'23, dropped sharply to a low of 7.519 in Q1'24, and then rebounded, peaking again at 16.839 in Q3'24 before settling at 14.826 in Q4'25. This pattern indicates periods of both contraction and expansion in valuation, with notable inflection points in Q3'23 and Q3'24, reflecting shifts in market sentiment or company fundamentals during these quarters.