Past earnings. Often used in the context of the price earnings ratio. This ratio is usually distinguished as price to trailing earnings (today's price divided by the most recent 12 months of earnings) versus price to prospective earnings (today's price divided by consensus forecast earnings for the next 12 months).
Nearby TermsTraditional IRA Traditional view (of dividend policy) Trailing earnings Trailing returns Trailing sales
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University