Investing Answers Building and Protecting Your Wealth through Education Publisher of The Next Banks That Could Fail
Investing Answers Building and Protecting Your Wealth through Education Publisher of The Next Banks That Could Fail

Last Fiscal Year (LFY)

What it is:

Last fiscal year (LFY) refers to a company's most recent completed fiscal year.

How it works (Example):

A fiscal year is a company's 12-month accounting cycle. The cycle begins on the first of any month (not necessarily January 1) and ends on the last day of the 12th month thereafter. A company's last fiscal year is the fiscal year that immediately preceded its current fiscal year.

For example, suppose Company ABC's fiscal year begins July 1, 2011 and ends June 30, 2012. As of September 15, 2011, Company ABC's last fiscal year would be the one that began July 1, 2010 and ended June 30, 2011.  

Why it Matters:

Analysts constantly refer to a firm's last fiscal year when measuring and tracking performance and reporting functions. The last fiscal year is the starting point for most analyses and forecasts for the current fiscal year. 

Related Terms View All
  • Auction Market
    Though most of the trading is done via computer, auction markets can also be operated via...
  • Best Execution
    Let's assume you place an order to buy 100 shares of Company XYZ stock. The current quote...
  • Book-Entry Savings Bond
    Savings bonds are bonds issued by the U.S. government at face values ranging from $50 to...
  • Break-Even Point
    The basic idea behind break-even point is to calculate the point at which revenues begin...
  • Calendar Year
    If Company XYZ starts its fiscal year on January 1 and ends its fiscal year on December...