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"Trailing P/E" uses

net incomefor the

most recent 12 month period, divided by the weighted average number of common shares in issue during the period. This is the most common meaning of "P/E" if no other qualifier is specified. Monthly earnings data for individual companies are not available, and in any case usually fluctuate seasonally, so the previous four quarterly earnings reports are used and

earnings per shareare updated quarterly. Note, each company chooses its own

financial yearso the timing of updates will vary from one to another.

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