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Glossary

Trailing 12-month P/E (TTM)

The P/E built on the last 12 months of profit instead of the last closed fiscal year.

What it is

The P/E built on the last 12 months of profit instead of the last closed fiscal year. Shown on the stocks pages.

How Dados B3 calculates it

today's market value ÷ profit of the last 12 months. The 12-month profit is built from the quarterly filings: last year's profit − last year's quarters up to the latest quarter + this year's quarters up to the same quarter. If any piece is missing the figure is not published (nothing is estimated).

Example

Illustrative example, with made-up numbers to keep the arithmetic easy: Last year's profit R$ 400 million; the first two quarters of last year added R$ 180 million and the first two of this year R$ 240 million. 12-month profit = 400 − 180 + 240 = R$ 460 million. With a market value of R$ 4.6 billion, 12-month P/E = 10.

What to watch for when reading it

• It is the most recent snapshot; the annual P/E (fiscal year) uses another price and another profit, so the two differ.
• The reference quarter is shown next to the number; check the date before comparing with another site.
• The same caution as the P/E applies: one-off profit distorts it.

See also

• P/E (price to earnings)
• ROE (return on equity)

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Educational content to understand what each number means. It is not a recommendation to buy or sell.