Financial Modeling Question - Using TTM for latest fiscal year but not prior years?

try and always use TTM because it usually provides the most accurate data. since it is such a new public company I would forcast the first 2 years quarterly because it will probably have different growth or assumptions as it starts to settle or take off in the market. use TTM for income statement and just most current for balance sheet with calculating ratios. Also for your Write up make sure you defend the assumptions you use. also found this structure online that I like so Ill share it.

1. Conclusion up front: I am (don’t say “we”) long TICKER, market cap and price target, and % upside, implied IRR % over what time horizon
2. How did you get to your price target (multiple of future earnings/EBITDA/FCF, SoTP (sum of the parts), etc.)
3. What does the company do, how does it make money, what’s the industry structure and how the company fits into the industry?
4. Summarize the 2-3 theses points on the stocks up front. All theses need to affect the fundamental forecast and/or valuation.
5. Dive into thesis points and provide evidence of research and numbers to support points – be sure to clearly explain how your view differs from consensus (i.e. the market); Focus most of your energy on fundamentals rather than multiple expansion.
6. Summarize valuation (including slightly more detail than upfront), and conclude by reiterating your price target and % upside
7. Include a financial summary and your model