QQQ P/E ratio of 3.77?

[Overnight]

Interesting Overnight. What does that mean, exactly? I mean, I think TTM means, generally, "over the past 12 month period, whatever that period was". But what does "PM Ratio (TTM)" as Yahoo uses it mean exactly? Whatever it means, how can the 3.81 number make a lick of sense?

Thanks.

It means exactly that. Trailing twelve months from the date of the read. If you look at the performance of the QQQ from May 24th 2021 to today, earnings and price have have been quite depressed. ESPECIALLY in the past 5 months. Consider it an average over that one-year period.