What’s the most efficient way to download 10K/10Q reports or financial statements in a format that facilitates the process of building financial models? What software or process do professional equity research analysts use? I’m used to the old fashioned way of looking up annual reports from company websites in excel and pdf and inputting the numbers manually. I’m sure there has to be a more efficient software because this process is very time consuming.
Software such as Factset can do it, but most people still manually enter the numbers if they are doing in depth research. Why? Most people set up the models differently, you can’t trust the data providers, and you make lots of adjustments anyways…
i think you would hire a junior analyst.
FrankArabia Wrote: ------------------------------------------------------- > i think you would hire a junior analyst. yeha its pretty much what er associates are for.
Red Wrote: ------------------------------------------------------- > What’s the most efficient way to download 10K/10Q > reports or financial statements in a format that > facilitates the process of building financial > models? What software or process do professional > equity research analysts use? > > I’m used to the old fashioned way of looking up > annual reports from company websites in excel and > pdf and inputting the numbers manually. I’m sure > there has to be a more efficient software because > this process is very time consuming. the filings are the only way. don’t bother with the company web-site. edgar is the best resource. http://www.sec.gov/edgar/searchedgar/companysearch.html thomson, bloomberg or any data provider is not going to be good enough for companies that have any type of non-recurring charges because there are different ways of handling one-time items and you might want to do it differently. no choice but to go adjust everything by hand. also, Qs and Ks are often not enough. you also have to go back to the actual press releases 8-Ks to get the earnings release. sometimes the Qs only have the GAAP info and since you’re going to want to build pro-forma models you have to check the press releases for descriptions of non-gaap charges and one-time items. since there are so many 8-Ks, a simple trick for finding the earnings press releases in edgar is to search for the code 2.02 (once you’ve punched in the ticker to get the filings). that is the code all the earnings press releases are labeled as (so you dont have to click all the 8-Ks one by one to find them). hope this helps. (i’m feeling nice today)