Why 10-Q filings matter
If you're following a company throughout the year, the 10-Q is one of the best resources for understanding how its business is performing.
What Is a 10-Q?
A 10-Q is an SEC filing that summarizes a company's financial results for a single fiscal quarter.
Unlike the annual 10-K, which provides a comprehensive review of the entire year, the 10-Q focuses on recent performance and any significant changes since the last reporting period.
Most public companies file three 10-Q reports each year.
What Does a 10-Q Include?
While the exact contents vary by company, a typical 10-Q includes:
- Quarterly financial statements
- Revenue and earnings results
- Management's Discussion and Analysis (MD&A)
- Updates to business risks
- Legal proceedings
- Changes since the previous quarter
Together, these sections give investors a snapshot of the company's current financial position.
When Are 10-Qs Filed?
Public companies generally file a 10-Q after the end of each of the first three fiscal quarters.
The fourth quarter is typically included in the company's annual 10-K, so a separate fourth-quarter 10-Q is usually not filed.
Filing deadlines vary depending on the size of the company and its reporting status.
Why Is the 10-Q Important?
The 10-Q allows investors to monitor a company's progress throughout the year instead of waiting for the annual report.
Investors often use 10-Q filings to:
- Review quarterly financial performance
- Compare results with previous quarters
- Track revenue and profit trends
- Identify changes in business risks
- Evaluate management's commentary
Reading each quarterly report can provide a clearer picture of how a company is performing over time.
Where Can You Find a Company's 10-Q?
10-Q filings are publicly available through the SEC's EDGAR database.
You can search by:
- Company name
- Stock ticker
- Central Index Key (CIK)
Many companies also publish their latest quarterly reports on their investor relations websites. For help finding filings, read our guide to finding any company's SEC filings.
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