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LTM / TTM / NTM

LTM / TTM / NTM LTM/TTM/NTM are time periods used to measure and compare a company's financial performance across different perspectives.

These metrics help buyers and sellers evaluate business valuation by analyzing historical and projected financial results.

How LTM / TTM / NTM Works

LTM (Last Twelve Months) and TTM (Trailing Twelve Months) represent the most recent 12-month financial performance, providing a comprehensive view of a company's recent operational results.

NTM (Next Twelve Months) focuses on projected financial performance, offering insight into potential future growth and business trajectory.

The choice between these metrics can significantly impact business valuation, with growth-stage companies typically benefiting from forward-looking NTM projections.

Key Points

  • LTM/TTM represent actual historical financial performance
  • NTM provides forward-looking financial projections
  • Different time periods can dramatically affect business valuation
  • Growth rate and business stage influence metric preference
  • Credible projections are crucial for NTM-based valuations

Frequently Asked Questions

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Last Updated: May 21, 2026

Disclaimer: This content is for educational purposes. For guidance specific to your situation, consult with M&A professionals.