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.

Also sometimes known as last twelve months (LTM).

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

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

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