As of Q1'26 (2025-12-28), QCOM's EV/Sales ratio stands at 13.59, marking the lowest level observed in the provided timeframe. This latest figure reflects a notable decline from the previous quarter's value of 17.70, indicating a significant contraction in the company's valuation relative to its sales. Analyzing the trend from Q2'23 to Q1'26, the EV/Sales ratio exhibited considerable volatility, peaking at 22.18 in Q3'24 before entering a downward trajectory. After reaching this high point, the ratio steadily decreased, with only minor rebounds in Q3'25 and Q4'25, ultimately falling to its current low. This pattern suggests a shift in market sentiment or company fundamentals, resulting in a reduced valuation premium over sales by the end of the period.