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Last Twelve Months (LTM)

Written By
Paul Tracy
Updated August 12, 2020

What is Last Twelve Months (LTM)?

Last twelve months (LTM), also known as trailing twelve months (TTM), is the 12-month interval occurring before a given point in time. 

How Does Last Twelve Months (LTM) Work?

For example, an analyst who is issuing a report on October 15, 2012 will report last twelve months (LTW) earnings as those from October 1, 2011 to September 30, 2012. 

Why Does Last Twelve Months (LTM) Matter?

Analysts and policymakers frequently use the last twelve months to gauge economic performance and to analyze data from the past year. It is important not to confuse the last twelve months with the last fiscal year (LFY), which covers the organization's most recently-completed fiscal year.

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