A 10-K is a detailed annual report that publicly traded companies in the US must send to the Securities and Exchange Commission (SEC). It gives a thorough look at a company’s financial performance and operations over the past year. In a 10-K, you’ll find audited financial statements like the balance sheet, income statement, and cash flow statement, which show the company’s financial health and how money moves in and out.

What exactly is a 10-K?

A 10-K is a detailed annual report that publicly traded companies in the United States must give to the Securities and Exchange Commission (SEC). It offers a thorough look at how well the company has done financially and operationally over the past year. Inside a 10-K, you’ll find audited financial statements like the balance sheet, income statement, and cash flow statement. These show how much money the company has and where it’s coming from and going to. The report also includes insights from the company’s leaders about their business plans, the market they’re in, and any risks they face. Investors use the 10-K to decide if they want to invest in the company, while regulators and analysts check it to make sure everything’s clear and follows the rules. Overall, the 10-K is essential for understanding how a company is doing and where it might be headed.

What You’ll Find in a 10-K?

In a 10-K, which is an annual report that publicly traded companies in the United States must submit to the Securities and Exchange Commission (SEC), you’ll find several important sections that give a detailed picture of the company:

• Financial Statements: These include the balance sheet, income statement, and cash flow statement. They show how much money the company has, what it owns and owes, and how it’s making and spending money.
• Management’s Discussion and Analysis (MD&A): This part explains the company’s financial health and performance in plain language. It covers what’s been going well, any challenges faced, and plans for the future.
• Business Overview: This section describes what the company does, its products or services, and its place in the market. It talks about who the company’s customers are, how it sells its products, and who it competes with.
• Risk Factors: Companies list potential risks that could hurt their business. These might include things like changes in the economy, competition, or legal issues. It helps investors understand what could go wrong.
• Corporate Governance and Executive Pay: The company explains how it’s run, who’s on its board of directors, and how much its top executives are paid. It’s important for investors to know if management’s goals align with the company’s success.

How to Find a 10-K?

Finding a company’s 10-K, which is an annual report filed with the Securities and Exchange Commission (SEC) by publicly traded companies in the United States, involves a few simple steps:

• SEC’s EDGAR Database: The main way to find a company’s 10-K is through the SEC’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) database. You can access this for free on the SEC’s website (sec.gov/edgar). Search by the company’s name or stock symbol. You’ll need to know the year of the report you’re looking for because companies file a new one each fiscal year.
• Company’s Investor Relations Website: Many companies also post their 10-K reports on their investor relations websites. Look for sections like “Investor Relations,” “Financials,” or “SEC Filings.” They often keep past reports archived there for reference.
• Financial News Websites and Databases: Websites like Bloomberg, Reuters, or Yahoo Finance may also have copies of 10-K reports. These sites gather financial data and filings from various sources, making it easy to search for specific documents.

When looking for a 10-K, make sure you’re getting the most recent report. Companies must file their 10-K within 60 to 90 days after the end of their fiscal year. This ensures that investors, analysts, and regulators have current and accurate financial information to make informed decisions about the company’s performance.

Deadlines of 10-K Filing

The deadline for filing a 10-K, which is an annual report that publicly traded companies submit to the Securities and Exchange Commission (SEC), is important for several reasons:

• Timing and Requirements: Companies must file their 10-K within a set time after the end of their fiscal year. The deadline varies based on the company’s size and how much stock it has:
  • Large companies: They must file within 60 days.
  • Medium companies: They have 75 days.
  • Smaller companies: They get up to 90 days.
• Extensions and Special Cases: Companies can ask for more time if they have a good reason, like a major event or financial issues. The SEC might give them an extra 15 days if they ask before the original deadline.
• Why It Matters: Filing on time is crucial. It keeps investors and regulators informed with current financial details. This helps them judge how well the company is doing and make smart investment choices.
• Late Filings Have Consequences: Missing the deadline can lead to fines and other penalties from the SEC. It can hurt the company’s reputation and make investors worry about its financial health and how it’s managed.
• Public Access: Once filed, the 10-K becomes public info. Anyone can look it up on the SEC’s website or the company’s own site. This openness helps keep markets fair and gives everyone a chance to understand how a company is doing financially.

How to Read a 10-K?

To read a 10-K, the annual report that publicly traded companies submit to the SEC, follow these steps to understand its contents:

• Financial Statements: Look at the balance sheet, income statement, and cash flow statement. These show what the company owns, how much it owes, its profits or losses, and how cash moves in and out.
• Management’s Discussion and Analysis (MD&A): Read what the company’s leaders say about its finances and operations. They explain what’s going well, any challenges, and plans for the future. This helps you see the big picture beyond just numbers.
• Business Overview: Understand what the company does, its products or services, and its place in the market. Learn about its customers, how it sells, and who it competes with. This section gives context to the financial details.
• Risk Factors: Companies list potential risks like economic changes, competition, or legal issues. Knowing these helps you see what could go wrong and affect the company’s success.

By reading a 10-K thoroughly, you get a clear view of how well the company is doing financially, its strategy for growth, and what challenges it might face. This information is crucial for investors, analysts, and anyone interested in understanding the company’s performance and future prospects.

Forms 8-K and 10-Q

Forms 8-K and 10-Q are important reports that publicly traded companies in the US must submit to the SEC:

• Form 8-K: This form is used to report major events or changes that shareholders need to know about between the company’s quarterly reports. It must be filed quickly (within four business days) after events like new executives, mergers, bankruptcies, or big financial impacts.
• Form 10-Q: Unlike the annual 10-K report, the Form 10-Q is filed every quarter. It gives a snapshot of the company’s financial performance for the past three months, including unaudited financial statements like the balance sheet and income statement. The 10-Q also talks about any updates in business, market conditions, and risks since the last 10-K. Companies file Form 10-Q within 45 days after each quarter ends to keep investors and regulators updated on financial health and changes.

Conclusion

In conclusion, knowing about 10-K filings, their deadlines, and related forms like 8-K and 10-Q is important for investors and stakeholders. These documents give key details about a company’s finances, operations, and plans. Reviewing these reports helps people decide whether to invest in or collaborate with a company. Keeping up with these filings lets you understand risks, opportunities, and how well the company is doing overall. It’s about transparency and making sure companies are accountable for their actions and finances.

10-K (US) – FAQs

What is a 10-K report?

A 10-K report is a detailed annual document that publicly traded companies send to the SEC. It shows the company’s financial health, operations, and risks.

How can I find a company’s 10-K report?

You can find it on the SEC’s EDGAR database. Go to sec.gov/edgar, search for the company’s name or ticker symbol, and you’ll find the latest and past reports.

What’s the difference between a 10-K and a 10-Q?

A 10-K is yearly, giving a full picture of a company’s finances. A 10-Q is every three months, showing how the company did in the last quarter.

What if a company doesn’t file its 10-K on time?

Missing the deadline can mean fines from the SEC. Investors might also worry about how well the company is run and its money situation.

Why are Forms 8-K important?

Forms 8-K let investors know fast about big changes at a company, like new bosses, mergers, or money issues. It helps them decide if they want to invest.