Definition
The 10-K is a comprehensive annual report required by the SEC from all public companies, providing a detailed overview of the company's financial performance. It includes audited financial statements, management discussion and analysis (MD&A), risk factors, executive compensation, and information about business operations. Unlike glossy annual reports, 10-Ks follow a standardized format making comparison across companies easier. Filed within 60-90 days after fiscal year end, 10-Ks are essential reading for fundamental investors.
Example
A 10-K might reveal that a company's largest customer represents 40% of revenue (concentration risk) or that pending litigation could materially impact results - information not obvious from headline numbers.
FAQ
What is 10-K?
A comprehensive annual report filed with the SEC containing detailed company financials.
Why is 10-K important?
10-K helps investors evaluate regulatory and make more informed decisions.
Related Terms
10-Q
A quarterly report filed with the SEC containing unaudited financial statements.
SEC (Securities and Exchange Commission)
The U.S. federal agency responsible for regulating securities markets and protecting investors.
Annual Report (10-K)
A comprehensive yearly report of a company's business and financials.