Meaning
TTM is a rolling last-12-month view instead of one fiscal year.
Formula
Last four quarters combined, or the latest twelve months of reported data
Practical reading
TTM helps compare recent performance when the latest annual report is stale.
Calculation detail
TTM usually equals the sum of the latest four reported quarters. For a balance-sheet item, it normally means the most recent quarter-end value rather than a four-quarter sum.
What to check
TTM keeps ratios more current between annual reports and makes companies with different fiscal year ends easier to compare.
Limits and caveats
It still relies on reported quarters and may include seasonal peaks or a one-off event; compare it with the prior TTM and the latest annual figure.