TTM Revenue per Share

Category

Ratios

Units

Currency per share

Formula

TTM Revenue per Share = TTM Revenue ÷ Shares Outstanding

Source

Calculated by GeminIQ from figures reported in SEC filings

TTM revenue per share is a company's total revenue over the trailing twelve months divided by its shares outstanding. It expresses the latest full year of sales on a per-share basis, showing how much revenue each share represents.

Revenue per share is the building block of the price-to-sales ratio: dividing the share price by TTM revenue per share gives the same result as dividing market capitalization by TTM revenue.

Revenue is usually tagged Revenues or RevenueFromContractWithCustomerExcludingAssessedTax in XBRL, the latter covering revenue from customer contracts under ASC 606, excluding sales and similar taxes collected on behalf of governments. The trailing numerator adds the four most recent quarters, with the fourth quarter derived as the 10-K annual amount minus the nine-month amount from the third-quarter 10-Q. The per-share figure is calculated from figures reported in SEC filings. Companies do not report it.

The denominator can be period-end shares outstanding or the weighted average for the period, basic or diluted. Period-end shares reflect the latest buybacks and issuance, while a weighted average better matches a revenue figure earned across the year. After a large acquisition paid for in stock, or a major buyback, the two can differ noticeably, so figures from different sources may not match. Stock splits change the share count, and historical per-share figures are normally adjusted to keep the series comparable.

The measure is most useful for companies with little or no profit, where earnings-based ratios are meaningless. Growth in revenue per share over time shows whether the business is growing faster than its share count, which matters for companies that issue stock heavily. It says nothing about profitability, though, and it is not comparable across industries with very different margins: a grocer and a software company can have the same revenue per share and very different values.