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De Raj Group

WBAG:DRJ
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DRJ
WBAG
€131M
Market Cap
  1. Home
  2. AT
  3. Energy
Company description

De Raj Group AG operates in the oil and gas, and power businesses. The last earnings update was 43 days ago. More info.


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DRJ Share Price and Events
7 Day Returns
0%
WBAG:DRJ
6%
Europe Energy Services
1.7%
AT Market
1 Year Returns
-
WBAG:DRJ
-24.1%
Europe Energy Services
-16.2%
AT Market
DRJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
De Raj Group (DRJ) 0% 0% - - - -
Europe Energy Services 6% 2% -22.9% -24.1% -63.3% -83.9%
AT Market 1.7% 0% -7.7% -16.2% 41.4% 8.6%
1 Year Return vs Industry and Market
  • No trading data on DRJ.
  • No trading data on DRJ.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is De Raj Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.

In this section, we usually try to help investors determine whether De Raj Group is trading at an attractive price based on the cash flow it is expected to produce in the future. But as De Raj Group has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis. You can see them here.

Show me the analysis anyway

INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for De Raj Group. This is due to cash flow or dividend data being unavailable. The share price is €3.74.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for De Raj Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are De Raj Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:DRJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR Not available
WBAG:DRJ Share Price ** WBAG (2018-10-15) in EUR €3.74
Europe Energy Services Industry PE Ratio Median Figure of 21 Publicly-Listed Energy Services Companies 17.71x
Austria Market PE Ratio Median Figure of 49 Publicly-Listed Companies 13.2x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of De Raj Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to compare the PE ratio to the industry average as no data exists.
  • Unable to calculate PE ratio for De Raj Group, we can't compare the value of its earnings to the Austria market.
Price based on expected Growth
Does De Raj Group's expected growth come at a high price?
Raw Data
WBAG:DRJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
29.4%per year
Europe Energy Services Industry PEG Ratio Median Figure of 18 Publicly-Listed Energy Services Companies 0.76x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 0.93x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for De Raj Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on De Raj Group's assets?
Raw Data
WBAG:DRJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR Not available
WBAG:DRJ Share Price * WBAG (2018-10-15) in EUR €3.74
Europe Energy Services Industry PB Ratio Median Figure of 65 Publicly-Listed Energy Services Companies 0.89x
Austria Market PB Ratio Median Figure of 56 Publicly-Listed Companies 1.15x

* Primary Listing of De Raj Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to compare the PB ratio to the industry average as no data exists.

Next steps:

  1. Take a look at De Raj Group's forecasted future earnings and revenues from industry analysts to understand how the company is expected to perform in the future against its competitors and the wider market.
  2. When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through De Raj Group's regulatory filings and announcements.
  3. Show me more potentially undervalued companies in the Energy Services industry
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Value checks
We assess De Raj Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Energy Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Energy Services industry average (and greater than 0)? (1 check)
  5. De Raj Group has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is De Raj Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover De Raj Group, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
29.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is De Raj Group expected to grow at an attractive rate?
  • De Raj Group's earnings growth is expected to exceed the low risk savings rate of 0.9%.
Growth vs Market Checks
  • De Raj Group's earnings growth is expected to exceed the Austria market average.
  • Unable to compare De Raj Group's revenue growth to the Austria market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WBAG:DRJ Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:DRJ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 29.4%
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 36.9%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 10.3%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9.8%
Austria Market Revenue Growth Rate Market Cap Weighted Average 3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:DRJ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:DRJ Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 13 1
2018-06-30 13 1
2018-03-31 11 1
2017-12-31 10 11 2
2017-09-30 10 2
2017-06-30 10 3
2017-03-31 10 3
2016-12-31 11 5 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • De Raj Group's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if De Raj Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:DRJ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from De Raj Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:DRJ Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30
2018-06-30
2018-03-31
2017-12-31
2017-09-30
2017-06-30 0.95
2017-03-31 1.16
2016-12-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if De Raj Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess De Raj Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
De Raj Group has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has De Raj Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare De Raj Group's growth in the last year to its industry (Energy Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Unable to establish if De Raj Group's year on year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.
  • Unable to compare De Raj Group's 1-year earnings growth to the 5-year average as it has been trading publicly for less than 3 years.
  • De Raj Group's 1-year earnings growth is negative, it can't be compared to the Europe Energy Services industry average.
Earnings and Revenue History
De Raj Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from De Raj Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:DRJ Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 13.37 0.88 1.01
2018-06-30 12.50 0.71 2.03
2018-03-31 11.27 1.27 2.10
2017-12-31 10.30 1.87 2.18
2017-09-30 10.08 2.36 1.39
2017-06-30 9.85 2.84 0.61
2017-03-31 10.30 3.48 0.56
2016-12-31 10.74 4.12 0.51

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • De Raj Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • De Raj Group used its assets less efficiently than the Europe Energy Services industry average last year based on Return on Assets.
  • Unable to establish if De Raj Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess De Raj Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Energy Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
De Raj Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is De Raj Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up De Raj Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • De Raj Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • De Raj Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of De Raj Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from De Raj Group Company Filings, last reported 3 months ago.

WBAG:DRJ Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 122.86 20.31 1.98
2018-06-30 123.17 21.64 0.82
2018-03-31 117.18 21.80 1.15
2017-12-31 119.44 23.74 0.49
2017-09-30 119.44 23.74 0.49
2017-06-30 16.78 0.00
2017-03-31 16.78 0.00
2016-12-31 18.95 35.87 2.67
  • De Raj Group's level of debt (16.5%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if De Raj Group's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (51.7%, greater than 20% of total debt).
  • De Raj Group is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess De Raj Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. De Raj Group has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is De Raj Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from De Raj Group dividends.
If you bought €2,000 of De Raj Group shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate De Raj Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate De Raj Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:DRJ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.8%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.2%
Austria Minimum Threshold Dividend Yield 10th Percentile 1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as De Raj Group has not reported any payouts.
  • Unable to verify if De Raj Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of De Raj Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as De Raj Group has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess De Raj Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can De Raj Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. De Raj Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of De Raj Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eelasegeran Nadarajah
AGE 59
CEO Bio

Mr. Eelasegeran T. Nadarajah has been a Member of the Management Board at De Raj Ag since March 29, 2018 and serves as its Group Chief Executive Officer. He graduated from Loughborough University of Technology, United Kingdom, with a Civil Engineering (Hons) degree in 1981. Joined Petronas, the Malaysian National Oil Company, in September 1981 and served the company for close to 32 years in various capacities. Assumed various positions in projects and planning including Site Engineer, Project Manager and Strategy Development Head in the company’s upstream E&P arm, Petronas Carigali Sdn Bhd (PCSB). Moved to senior management positions, leading overseas assignments from February 2004, assuming the responsibilities of Country Head, Petronas Algeria and later in 2006, Country Head, Petronas Uzbekistan. Upon retirement from Petronas, moved to the service industry and was with offshore facilities provider, Gryhon Energy (the predecessor of De Raj Group) since August 2013 to mid-2015, serving as the Chief Marketing Officer, leading all the marketing and commercial effort of the Gryphon Group. Since 2015, was on a freelance consulting mode for both Gryphon and a Middle Eastern company. Since Jan 2018, joined De Raj Group (DRG) as President, Middle East & North Africa (MENA) leading the business development and project implementation in the region. In particular, Power Plant projects and potential oil & gas projects employing the patented technology of DRG are key areas of focus.

CEO Compensation
  • Insufficient data for Eelasegeran to compare compensation growth.
  • Insufficient data for Eelasegeran to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

Eelasegeran Nadarajah

TITLE
Group CEO & Member of the Management Board
AGE
59

Nagendran Nadarajah

TITLE
Chairman of the Management Board
TENURE
1.2 yrs

Nicholas de Raj

TITLE
Deputy Chief Executive Officer of Corporate Affairs & Member of the Management Board
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the De Raj Group board of directors in years:

1.5
Average Tenure
47
Average Age
  • The average tenure for the De Raj Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Alexander De Raj

TITLE
Chairman of Supervisory Board
AGE
29
TENURE
1.5 yrs

Carlo Arachi

TITLE
Deputy Chairman of Supervisory Board
AGE
47
TENURE
1.2 yrs

Renata De Raj

TITLE
Member of Supervisory Board
AGE
63
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess De Raj Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. De Raj Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Company Info

Map
Description

De Raj Group AG operates in the oil and gas, and power businesses. It provides various solutions for the monetization of oil and gas fields for National oil companies, companies having stakes in oil fields, and other technological enterprises in the South East Asian region. The company has a range of assets comprising jack-up rigs, drilling equipment, processing equipment, and marine equipment that handles offshore oil and gas extraction and production for green fields, brown fields, and marginal fields. It also owns, acquires, and operates various contracted renewable and conventional generation and thermal infrastructure assets in Germany. The company is based in Cologne, Germany.

Details
Name: De Raj Group AG
DRJ
Exchange: WBAG
Founded:
€130,900,000
35,000,000
Website: http://www.thederajgroup.com
Address: De Raj Group AG
Christophstrasse 15 – 17,
Cologne,
North Rhine-Westphalia, 50670,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WBAG DRJ Ordinary Bearer Shares Wiener Boerse AG AT EUR 09. Feb 2018
DB DRJ Ordinary Bearer Shares Deutsche Boerse AG DE EUR 09. Feb 2018
XTRA DRJ Ordinary Bearer Shares XETRA Trading Platform DE EUR 09. Feb 2018
Number of employees
Current staff
Staff numbers
72
De Raj Group employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/12 23:04
End of day share price update: 2018/10/15 00:00
Last earnings filing: 2018/11/30
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.