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As of Q4'25, MPWR's EV/EBITDA ratio has surged to 200.63, marking a significant spike compared to previous quarters. This latest data point represents a dramatic increase from Q3'25, which recorded a value of 60.49. Analyzing the period from Q1'23 to Q4'25, the EV/EBITDA ratio exhibited considerable volatility, with values generally fluctuating between 31.85 and 73.04 before the sharp escalation at the end of 2025. The most notable inflection occurs in Q4'25, where the ratio more than triples from the prior quarter, indicating a substantial change in either enterprise value, EBITDA, or both. This abrupt rise may signal a major event impacting MPWR's valuation or profitability during the final quarter of the observed timeframe.