Year over Year (YoY)

A comparison of financial or business performance between the same period in consecutive years.

Year over Year (YoY) is a financial analysis term used by small business owners to compare and evaluate the performance of their business over a specific period of time, typically one year, by examining changes in key metrics, such as revenue, expenses, or profit, between the current year and the same period in the previous year. This comparison helps business owners identify trends, assess growth or decline, and make informed decisions based on historical data.