Last Twelve Months (LTM) financials
A company’s fiscal year is a natural time period to consider when analyzing its financial performance.
However, if interim results have been published in-between, the company’s most recent completed fiscal year is maybe not optimal to use. That's why it is common to calculate financial results for the time period known as "Last Twelve Months" (LTM) period, sometimes also referred to as the "Trailing Twelve Months" (TTM) period.
The LTM period covers the four most recent fiscal quarters (or two fiscal semesters) for which financial information is available. LTM financials are calculated adding the numbers of the full fiscal year and the most recent partial period, and then subtracting the numbers for that same time period from the year before.
LTM financials are updated each time interim results have been published.
