As of Q4'25, the latest P/B Ratio for TEM stands at 20.94. This marks a notable decrease from the previous quarter's value of 29.6, indicating a recent downward movement after a period of elevated ratios. Analyzing the data from Q1'23 to Q4'25, the P/B Ratio experienced significant volatility. The ratio was deeply negative through 2023, reaching as low as -66.46 in Q1'23, before sharply reversing into positive territory in 2024, peaking at 212.66 in Q4'24. After this peak, the ratio declined steadily through 2025, suggesting a normalization following the dramatic surge. This area chart highlights a highly unstable period followed by a correction, with the most recent quarters showing a downward but still elevated P/B Ratio compared to historical levels.