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Based on the latest financial data for Q1'26, the EV/EBITDA ratio reached 8.033. This current valuation represents a significant compression compared to previous fiscal periods, reaching its lowest point within the analyzed timeframe. From Q2'23 to Q1'26, the chart illustrates a clear downward trend in valuation multiples, beginning with a period of stability around 31 in FY2023. A sharp decline commenced after Q1'24, with the ratio dropping precipitously from 31.813 to a low of 8.033, indicating that enterprise value has significantly decreased relative to EBITDA performance. While there was a minor consolidation phase between Q2'25 and Q4'25, the overall trajectory remains bearish as the metric continues to trend toward historical lows.