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The latest data point for MPWR's EV/Sales ratio in Q1'26 stands at 65.43, reflecting a moderate pullback of approximately 11% from the Q4'25 peak of 73.26, yet remaining well above the series low of 43.46 observed in Q4'24. Over the period from Q2'23 to Q1'26, the EV/Sales ratio has exhibited notable volatility with an overall upward trajectory, starting at 57.02 and climbing to a high of 76.01 in Q4'23 before dipping to 43.46 in Q4'24 amid potential market pressures; subsequent recovery through Q4'25 shows resilient growth, averaging around 62 across the timeframe, indicating strengthening investor valuation relative to sales despite periodic fluctuations typical in the semiconductor sector.