Intrinsic Value ยท Lesson 1.7
TTM vs annual fundamentals
Every intrinsic value model in FactorSage exists in two flavours: annual and trailing twelve months (TTM). The choice changes how quickly your valuation reacts to new data.
Annual fundamentals
Annual figures update once a year after the company reports its fiscal year. They smooth out seasonal noise but lag the business by months.
Trailing twelve months
TTM rolls the latest four quarters into a single twelve-month figure. It refreshes after every earnings release, so valuations move sooner when the business changes.
| Property | Annual | TTM |
|---|---|---|
| Update frequency | Once a year | After every quarter |
| Noise sensitivity | Lower | Higher |
| Best for | Stable compounders, long horizons | Faster-moving stories, recent turnarounds |
| FactorSage plan | Free and above | Pro only |
Switching between them in FactorSage
Each model exposes both fields, for example DCF_VALUE and DCF_VALUE_TTM. The strategy builder will only let you pick TTM variants if your plan includes them. Free accounts default to annual DCF.
Related
- Intrinsic value in strategiesIntrinsic Value
- TTMGlossary
- Annual FundamentalsGlossary