Trailing twelve months

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In commerce, the trailing twelve months (TTM) is a moving measurement (for example, an average or a sum) over the 12 previous months, using the most recent data available. It's also sometimes known as last twelve months (LTM).

Example

If a Company reports $1 million in quarterly revenue in a 10-Q 1/1/2000, a $4 million yearly revenue on 9/1/2000, and $10 million quarterly revenue in 1/1/2001, the LTM revenue is calculated as $13 million as follows.

Most Recent Quarter(s) + Most Recent Year - Oldest Quarters

$4m + $10m - $1m = $13m

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