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As of Q3'25, LLY's EV/EBITDA stands at 34.062, marking a significant decrease from its peak levels observed in the previous quarters. This latest data point reflects a continued downward trend from the recent high of 90.467 in Q4'23. From Q1'23 to Q4'23, LLY's EV/EBITDA ratio experienced a sharp increase, rising from 49.91 to a peak of 90.467, indicating a period of strong valuation expansion. However, beginning in 2024, the ratio reversed course, declining steadily each quarter to reach 34.062 by Q3'25. This trend highlights a notable contraction in valuation multiples over the covered period, suggesting changing market sentiment or improving EBITDA relative to enterprise value.