TTM — Trailing Twelve Months
TTM (Trailing Twelve Months) is a company's performance over the most recent four reported quarters added together — a rolling one-year figure that updates every quarter instead of waiting for the annual report.
A financial year ending in March gets stale quickly: by December, "last year's profit" is nine months old. TTM fixes this by always summing the latest four quarters — after Q2 results, TTM covers Q3 and Q4 of the previous year plus Q1 and Q2 of the current one. Ratios computed on TTM numbers (TTM P/E, TTM revenue growth) therefore reflect the newest available data.
Screeners lean on TTM because it makes companies comparable regardless of where they are in the reporting cycle. A P/E computed on last fiscal year's EPS and one computed on TTM EPS can differ meaningfully for a fast-growing or fast-deteriorating business — TTM is the more honest denominator.
One caution: TTM smooths but does not remove one-offs. A large exceptional gain sits inside TTM figures for four full quarters, flattering every ratio built on them until it rolls out.
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