Trailing Twelve Months, also known as TTM, represents the most recent 12 months of a company's performance. It's commonly used in financial analysis to provide a current snapshot of a company's financial health and performance, particularly in cases where the most recent fiscal year has ended.

TTM is calculated as the sum of a company's financial performance over the past 12 months, typically using the most recent quarter's financial statements. This includes revenue, earnings, cash flow, or any other financial metric of interest.

TTM is a useful metric because it provides a current and up-to-date picture of a company's financial performance, and it can help investors and analysts to assess trends and identify patterns in a company's financial results. 

Example:

To calculate company's TTM revenue, we would add up the revenue from the most recent four quarters. If the most recent quarter's revenue was $25 million, and the three previous quarters' revenues were $20 million, $15 million, and $10 million, respectively, then the TTM revenue would be:

TTM Revenue = $25 million + $20 million + $15 million + $10 million 

TTM Revenue = $70 million

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