As of Q2'26 (2025-12-31), Microsoft’s EV/EBITDA ratio stands at 62.34, representing a dramatic spike compared to the previous quarters where values ranged between 19.79 and 24.01. This latest data point marks a significant outlier in the company’s valuation multiples. From Q3'23 to Q1'26, the EV/EBITDA ratio for Microsoft generally fluctuated within a relatively narrow band, mostly between 19.8 and 25.2, indicating a stable valuation trend over this period. However, the sharp increase to 62.34 in Q2'26 suggests a sudden and substantial shift, likely driven by extraordinary market factors or a one-off event. This abrupt change breaks the prior stability and warrants further investigation into the underlying causes during this specific quarter. The chart covers the period from Q3'23 to Q2'26.