Last Twelve Months' figures are constructed by Infinancials from the latest annual and interim reports published by the company and represent the amounts attributable to the last twelve months of activity. This is available only for certain accounting items, and will not be calculated if it is impossible to isolate activity relating to the last 12 months.

The calculation depends on the reporting frequency, the availability of the accounts, and whether the item be from the income statement or balance sheet.

Income statement items will be assembled from multiple reports, balance sheet items, which represent a snapshot of the accounts, will be taken from the last available accounts published.

Quarterly reports are available: LTM figures are calculated from the last four quarters available. If the latest quarterly report relates to Q2 2004 then the LTM sales figure will be calculated thus: 2004Q2 + 2004Q1 + 2003Q4 + 2003Q3 alternatively:
2004Q2 + 2004Q1 + 2003 Annual Figures - 2003Q1 - 2003Q2

Half-year reports are available: LTM figures are calculated from the last two available semesters. If the latest report relates to semester 1 2004 then the LTM sales figure will be calculated thus: 2004S1 + 2003S2 alternatively:
2004S1 + 2003 Annual Figures - 2003S1

Only annual reports are available: LTM figures are taken from the latest available accounts, providing they relate to a fiscal year of 12 months.

If not enough data is available, or it is impossible to deduce the most recent twelve month period, this figure will not be calculated.

Use this figure in valuation ratios to represent the most recent actual value. Compare this number against consensus estimates to determine if they are on track.