This ratio measure the percentage change in EPS between successive periods. It is a rolling 1 year forecast earnings number based on the consensus of analyst's estimates. It weights this current year and next year's earnings forecasts depending on how far a company is through in its fiscal year.
See this article for further explanation of what we mean by rolling.
One of the key contributing factors to stock price appreciation is the forecast rate of earnings growth. Accelerating earnings growth and broker forecast upgrades have also been cited by many investment experts such as Bill O'Neil as critical factors in their investment models. This figure should be viewed in tandem with historic EPS Growth in the financial summary section and the trend in forecast data in the broker section.