# Year-over-year growth

> The change from the same period a year earlier, divided by the size of that earlier figure.

Updated Oct 17, 2026.

Year-over-year (YoY) growth compares a figure with the same period one year earlier: this year's second quarter with last year's second quarter, or this fiscal year with the last.

## Formula

```
YoY growth = (this period − same period a year earlier) / |same period a year earlier|
```

The bars mean the absolute value: the earlier figure without its sign. Dividing by the absolute value keeps the direction right when the earlier figure is negative. An illustrative example: a net loss that narrows from −$100 million to −$50 million is growth of +50%, because the figure improved. Without the absolute value, the same change would show as −50%.

Listed shows growth with its sign: "+4.1% on the prior year".

## Why the same quarter a year earlier

Many businesses are seasonal. A retailer's holiday quarter is larger than its spring quarter every year, so comparing one quarter with the one before it mostly measures the season. Comparing with the same quarter a year earlier removes most of that effect.

## When it is not shown

- Either figure is not reported.
- The earlier figure is zero, so there is nothing to divide by.

## Watch for

- **Acquisitions.** Growth that includes a business bought during the year is not the same as growth from the existing business. MD&A usually separates them.
- **53 week years.** An extra week in one year inflates that year's growth and depresses the next.
- **Restatements.** Listed uses the latest reported figure for each period, which may differ from what was first reported.

## Related terms

- [Revenue](/glossary/revenue.md)
- [TTM](/glossary/ttm.md)
- [Fiscal quarter](/glossary/fiscal-quarter.md)
- [Fiscal year](/glossary/fiscal-year.md)

## Guides that use it

- [How to read a 10-Q](/guides/how-to-read-a-10-q.md)

All terms: [/glossary.md](/glossary.md)