Reading a 10-K & 10-Q
What the main company filings are, where to find them, which sections to read first and a practical 30-minute routine for getting real answers from them.
The source documents
US public companies must file detailed reports with the Securities and Exchange Commission. The 10-K is the annual report, audited by an independent accounting firm. The 10-Q is the quarterly report for the other three quarters, reviewed but not fully audited. An 8-K reports major events, such as earnings releases, acquisitions or executive changes, as they happen. All of them are free to read on the SEC’s EDGAR website and on company investor-relations pages.
| Filing | When | What it contains |
|---|---|---|
| 10-K | Once a year | Full audited annual report: business, risks, results, statements |
| 10-Q | Each of the other three quarters | Quarterly results and updates, not fully audited |
| 8-K | Within days of a major event | Earnings releases, deals, leadership changes |
| Proxy statement (DEF 14A) | Before the annual meeting | Executive pay, board members, shareholder votes |
The main US company filings.
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