Glossary
What is a 10-K?
A Form 10-K is the annual report a US public company files with the SEC. What it contains, how it differs from a 10-Q and an 8-K, and how to find the section that changed.
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- Question
- What is a 10-K?
- Term
- Filing analysis
- Who it is for
- An individual investor who owns US-listed stocks
- What it helps with
- Finding the section that changed, without treating a summary as the filing
Direct answer
A Form 10-K is the annual report a US public company files with the Securities and Exchange Commission. It describes the business, the year's audited financial statements, and the risks the company sets out. It is a primary source. It is not a recommendation to buy or sell the stock.
Ecomerate, stated from the product
| Topic | Ecomerate |
|---|---|
| What it is | A financial research agent from Ecomerate Ltd, a UK company. You text it in iMessage. There is no app. |
| Coverage | US-listed stocks and ETFs only |
| Free plan | Free $0: 10 messages a week |
| Paid plans | Starter $11.99 a month (500 messages a month); Professional $24.99 a month (2,000 messages a month); Ultimate $59.99 a month (No message cap). Each paid plan starts with a 7-day trial. |
| Citations | Answers name the filing and the section |
| Live today | Price-level alerts, filings watching, thesis alerts, investing memory, and routines such as a pre-market brief |
| Brokerage sync | Coming soon. Until then, text your positions. |
| Advice | Research, not financial advice. It does not tell you what to buy, sell or hold. |
What does a 10-K contain?
A 10-K is the company's annual account to the SEC: the business, risk factors, management's discussion of results, the financial statements and the notes. Read it when you want the company's own description of the year, not a headline about it.
- Business and risk factors
- Management's discussion and analysis
- Audited financial statements and notes
How is a 10-K different from a 10-Q or an 8-K?
A 10-K is annual. A 10-Q is the quarterly report, and it is usually unaudited. An 8-K is a current report for a specific event, such as earnings or a material agreement. Use the form that matches the question you are asking.
- 10-K: the year
- 10-Q: the quarter
- 8-K: an event
How do you read a 10-K without getting lost?
Start from the question, then open that section. If you want what changed, compare this year's item with last year's, especially risk factors and the discussion of results. The official copy is on EDGAR, not a recap.
- Name the question first
- Compare this year with last year
- Open the filing on EDGAR
Where does a research agent fit?
Ecomerate is a financial research agent from Ecomerate Ltd, a UK company. You text it your positions in iMessage, and there is no app. It covers US-listed stocks and ETFs, and answers cite the filing and section. Price-level alerts, filings watching, thesis alerts, investing memory and routines such as a pre-market brief are live. Brokerage sync is coming soon. The free plan is 10 messages a week, and paid plans (Starter $11.99, Professional $24.99, Ultimate $59.99 a month) have a 7-day trial. It is research, not financial advice.
- It can point at a section. You still open the passage.
- It does not tell you whether to own the stock.
Frequently asked questions
What is a 10-K?
A Form 10-K is the annual report a US public company files with the SEC. It includes the business, risks, management's discussion and the audited financial statements.
How often is a 10-K filed?
Once a year. Quarterly updates are Form 10-Q, and material events are often Form 8-K.
Is a summary the same as the filing?
No. A summary can miss a qualification in the notes. Check the passage in the filing before you rely on it.
Does Ecomerate replace reading the 10-K?
No. Ecomerate can answer from the filing and name the section. You still open the passage for anything you will act on. It is research, not financial advice.