forked from Zakaria/hermes-agent
Zakaria
126 lines
4.5 KiB
Markdown
126 lines
4.5 KiB
Markdown
# SEC Filings Data Extraction Reference
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**When to Use:** Only reference this file when a model template specifically requires pulling data from SEC filings (10-K, 10-Q). For templates that provide data directly or use other data sources, this reference is not needed.
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---
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## Extracting Data from SEC Filings (10-K / 10-Q)
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When populating a model template with public company data, extract financials directly from SEC filings.
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### Step 1: Locate the Filing
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1. Use SEC EDGAR: `https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=[TICKER]&type=10-K`
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2. For quarterly data, use `type=10-Q`
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### Step 2: Identify Filing Currency
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Before extracting data, identify the reporting currency:
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- Check the cover page or header for reporting currency
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- Look at statement headers (e.g., "in thousands of U.S. dollars")
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- Review Note 1 (Summary of Significant Accounting Policies)
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**Common Currency Indicators**
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| Indicator | Currency |
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|-----------|----------|
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| $, USD | US Dollar |
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| €, EUR | Euro |
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| £, GBP | British Pound |
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| ¥, JPY | Japanese Yen |
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| ¥, CNY, RMB | Chinese Yuan |
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| CHF | Swiss Franc |
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| CAD, C$ | Canadian Dollar |
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Set model currency to match filing; document in Assumptions tab.
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### Step 3: Navigate to Financial Statements
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Within the 10-K or 10-Q, locate:
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- **Item 8** (10-K) or **Item 1** (10-Q): Financial Statements
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- Key sections to extract:
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- Consolidated Statements of Operations (Income Statement)
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- Consolidated Balance Sheets
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- Consolidated Statements of Cash Flows
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- Notes to Financial Statements (for schedule details)
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### Step 4: Data Extraction Mapping
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**Income Statement (from Consolidated Statements of Operations)**
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| Filing Line Item | Model Line Item |
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|------------------|-----------------|
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| Net revenues / Net sales | Revenue |
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| Cost of goods sold | COGS |
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| Selling, general and administrative | SG&A |
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| Depreciation and amortization | D&A |
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| Interest expense, net | Interest Expense |
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| Income tax expense | Taxes |
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| Net income | Net Income |
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**Balance Sheet (from Consolidated Balance Sheets)**
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| Filing Line Item | Model Line Item |
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|------------------|-----------------|
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| Cash and cash equivalents | Cash |
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| Accounts receivable, net | AR |
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| Inventories | Inventory |
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| Property, plant and equipment, net | PP&E (Net) |
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| Total assets | Total Assets |
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| Accounts payable | AP |
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| Short-term debt / Current portion of LT debt | Current Debt |
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| Long-term debt | LT Debt |
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| Retained earnings | Retained Earnings |
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| Total stockholders' equity | Total Equity |
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**Cash Flow Statement (from Consolidated Statements of Cash Flows)**
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| Filing Line Item | Model Line Item |
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|------------------|-----------------|
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| Net income | Net Income |
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| Depreciation and amortization | D&A |
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| Changes in accounts receivable | ΔAR |
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| Changes in inventories | ΔInventory |
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| Changes in accounts payable | ΔAP |
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| Capital expenditures | CapEx |
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| Proceeds from issuance of common stock | Equity Issuance |
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| Proceeds from / Repayments of debt | Debt activity |
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| Dividends paid | Dividends |
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### Step 5: Extract Supporting Detail from Notes
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For schedules, pull from Notes to Financial Statements:
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- **Note: Debt** → Maturity schedule, interest rates, covenants
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- **Note: Property, Plant & Equipment** → Gross PP&E, accumulated depreciation, useful lives
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- **Note: Revenue** → Segment breakdowns, geographic splits
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- **Note: Leases** → Operating vs. finance lease obligations
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### Step 6: Historical Data Requirements
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Extract 3 years of historical data minimum:
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- 10-K provides 3 years of IS/CF, 2 years of BS
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- For 3rd year BS, pull from prior year's 10-K
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- Use 10-Qs to fill in quarterly granularity if needed
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### Data Extraction Checklist
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- Identify reporting currency and scale (thousands, millions)
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- 3 years historical Income Statement
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- 3 years historical Cash Flow Statement
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- 3 years historical Balance Sheet
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- Verify IS Net Income = CF starting Net Income (each year)
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- Verify BS Cash = CF Ending Cash (each year)
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- Extract debt maturity schedule from notes
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- Extract D&A detail or useful life assumptions
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- Note any non-recurring / one-time items to normalize
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### Handling Common Filing Variations
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| Variation | How to Handle |
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|-----------|---------------|
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| D&A embedded in COGS/SG&A | Pull D&A from Cash Flow Statement |
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| "Other" line items are material | Check notes for breakdown |
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| Restatements | Use restated figures, note in assumptions |
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| Fiscal year ≠ calendar year | Label with fiscal year end (e.g., FYE Jan 2025) |
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| Non-USD reporting currency | Adapt model currency to match filing |
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