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As of Q4'25, RKLB's EV/EBITDA ratio has sharply declined to -771.18, marking a significant deterioration compared to previous quarters. This latest data point highlights a dramatic negative shift in the company's valuation relative to its EBITDA. From Q1'23 to Q4'24, the EV/EBITDA ratio for RKLB remained negative but relatively stable, fluctuating between approximately -15.5 and -63.0. However, starting in Q1'25, the ratio began to decline more rapidly, dropping from -67.37 in Q1'25 to -117.92 in Q2'25, and further to -150.05 in Q3'25. The most notable inflection occurs in Q4'25, where the ratio plunges to -771.18, indicating a significant worsening in the company's financial position over the period covered by the chart.