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As of Q4'25, Pfizer's (PFE) EV/EBITDA ratio stands at -152.15, marking a dramatic negative shift from previous quarters. This latest data point is a significant deviation from the prior quarter (Q3'25), which recorded a positive value of 12.53. Over the period from Q1'23 to Q4'25, the EV/EBITDA ratio exhibited high volatility, with notable peaks in Q2'24 (94.69) and Q1'24 (48.80), followed by a sharp decline and eventual stabilization around 11–14 in the subsequent quarters. The sudden plunge into negative territory in Q4'25 suggests a substantial deterioration in operating performance or a significant one-time event impacting EBITDA, warranting further investigation into underlying financial drivers during this period.