Last Twelve Months (LTM)

Last Twelve Months (LTM) refers to the most recent 12-month period used for financial analysis and reporting, which typically provides a more current snapshot of a company's performance compared to an annual report. LTM data is frequently used to smooth out seasonal fluctuations and to give a more accurate representation of a business's operational health.

LTM is often utilized in the calculation of financial metrics such as revenue growth, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), and profitability, helping analysts and investors to assess the performance of companies over a continuous 12-month cycle. This approach is especially beneficial when comparing quarterly or monthly results to larger periods like fiscal years, especially in fast-moving sectors.