As of Q2'26 (2025-12-31), Microsoft's EV/Sales ratio stands at 44.63, showing a decrease from the previous quarter's high of 52.23. This latest figure suggests a recent contraction in valuation relative to sales after a period of elevated multiples. From Q3'23 to Q2'26, the EV/Sales ratio for Microsoft has demonstrated notable volatility, ranging from a low of 37.91 in Q3'23 to a peak of 52.23 in Q1'26. The trend shows periods of both sharp increases and declines, with significant jumps in Q2'24 and Q4'25, followed by corrections. Overall, while the ratio remains elevated compared to early periods, the recent pullback may indicate shifting market sentiment or changes in sales growth expectations over the covered timeframe.