How do you read Trailing twelve months (TTM)?

It is fresher than the last fiscal year: it updates with every new quarter. That is why a P/E on TTM earnings and one on the fiscal year's earnings can differ a fair bit.

Trailing twelve months (TTM)

Filings and share structure

A figure for the four most recent quarters together, rather than for the fiscal year.

How it is worked out

The sum of the last four quarters the company has filed (from its 10-Qs and 10-K).

How to read it

It is fresher than the last fiscal year: it updates with every new quarter.
That is why a P/E on TTM earnings and one on the fiscal year's earnings can differ a fair bit.

Example

Quarterly revenue of $24, $25, $26 and $27bn: TTM revenue of $102bn.

Related terms

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

Explanations of terms for learning, with examples from SEC filings.