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As of Q4'25, NBIS's EV/Sales ratio stands at 105.02, reflecting a notable decrease from the previous quarter's 150.09. This latest data point indicates a significant contraction in valuation relative to sales compared to earlier in 2025. From Q1'23 to Q1'24, the EV/Sales ratio exhibited a steady decline, dropping from 3.77 to 2.66. However, starting in Q2'24, the metric experienced extreme volatility, surging to 130.54, then fluctuating sharply between 80.91 and a peak of 224.05 in Q4'24, before trending downward through 2025. This pattern highlights a transition from stability to high volatility, suggesting major shifts in market sentiment or company fundamentals over the period analyzed.