Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day

year on year YOY

When measuring the difference between performance, prices, quantities or indeed any other value of something, it is common to measure the most recent value against the value measured exactly a year earlier. Year on year (yoy) is often used to avoid confusion with a change in value in the calendar year to date (ytd), or indeed the financial year to date (ytd). For example a company who reports, in June perhaps, that its share price has risen 5 per cent year on year, might have seen its share...