Glossary / TTM (Trailing Twelve Months)
TTM (Trailing Twelve Months)
TTM means the most recent twelve months of results, the window used to value a business so that seasonality and a single good month cannot distort the figure.
A business valued on TTM profit is valued on its last full year, rolling. It is the fair window because it captures a whole seasonal cycle and dampens any one exceptional month.
Watch for a seller quoting a “last 3 months annualised” figure instead of TTM: that is how a temporary spike gets sold as if it were the steady state.
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