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As of Q4'25, Lockheed Martin's EV/EBITDA ratio stands at 46.64, representing a substantial increase from the previous quarter's value of 17.18. This latest data point marks a significant spike, far exceeding the values observed throughout the earlier quarters in the period. From Q1'23 to Q3'25, the EV/EBITDA ratio for LMT generally fluctuated within the 11.7 to 17.2 range, indicating relative stability with only moderate growth and minor volatility. However, the sharp jump in Q4'25 signals a dramatic change in valuation, possibly reflecting a major shift in market expectations or company fundamentals. This abrupt rise is a notable outlier compared to the preceding quarters, which covered the period from Q1'23 through Q4'25.