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The latest data point for ORCL's EV/EBITDA ratio, as of Q3'26, stands at 65.69, marking a significant surge from the previous quarter's value of 23.86 in Q2'26 and indicating heightened market valuation relative to earnings. Over the period from Q4'23 to Q3'26, the EV/EBITDA ratio has exhibited a volatile upward trend, starting at 21.98 and generally declining to a low of 17.69 in Q2'24 before rebounding sharply, with notable peaks at 28.67 in Q4'25 and the recent 65.69 in Q3'26. This pattern suggests periods of compression followed by expansion in multiples, potentially driven by growth expectations or market sentiment, though the area chart highlights ongoing fluctuations rather than steady stability. Key inflection points include a brief recovery to 22.88 in Q1'25 and a dramatic 174% quarter-over-quarter increase into Q3'26, underscoring the metric's sensitivity to short-term factors.