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Company Financials App Now Available


US public companies are required to file their company financials – including income statements, balance sheets, and cash flow statements – quarterly and annually with the U.S. Securities and Exchange Commission (SEC). These financial reports provide a snapshot of the financial health of a corporation and any investor interested in fundamental analysis will typically be looking at these reports in great detail and performing financial analysis, including the calculation of important financial ratios.

We have just published the free Company Financials App for iOS, Android, Windows Phone, and Windows 8.1/10 that lets you explore and analyze US public company high-level financial reports automatically extracted from the XBRL filings in the SEC’s EDGAR database. You can search by company name or stock ticker symbol and view the financial reports of the last four quarters or last four years, as well as charts of annual or quarterly data reaching back several years.

In addition, various financial ratios, such as current ratio, quick ratio, cash ratio, gross profit margin, operating profit margin, return on assets, return on equity, debt/equity ratio, capitalization ratio, asset turnover, free cash flow, and many others, are calculated and displayed for the last four quarters or last four years. This makes the Company Financials app very useful for education purposes, such as business school programs in the area of accounting, finance, or corporate management.

 

Company Financials App

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New RaptorXML scripts added: XBRL.US DQC Rules, EFM v35, and EBA Filing Rules


Altova is a member of XBRL.US and has recently joined the XBRL US Center for Data Quality to support the Data Quality Committee’s initiative to address the public’s concerns about the quality and usability of XBRL financial data filed with the SEC.

As such, we are pleased to announce that we have just released a new set of EDGAR Tools for RaptorXML+XBRL Server on GitHub. These new Python scripts for RaptorXML+XBRL Server now support validation against the new Edgar Filer Manual (EFM) version 35, as well as implementing all the Approved DQC Guidance and Validation Rules from XBRL.US.

Data Quality DQC

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Financial Analysis of XBRL Corporate Filings on Mobile Devices


In a previous blog post we’ve described some of the problems that are encountered when processing corporate filings from the SEC’s EDGAR database  in XBRL. Today we present a system that overcomes these issues by downloading and processing XBRL filings on a daily basis, normalizing the financial data, computing common financial ratios, storing all data into a SQLite database, and then presenting the corporate reporting data for financial analysis through a mobile app for iOS, Android, and Windows Phone.

We are making all the sources for the data ingestion and normalization process available as Python scripts on GitHub under an Apache 2.0 license. The actual normalization rules as well as the financial ratios being computed are defined in external JSON files that can easily be modified without the need to edit the Python sources. In addition the MobileTogether Design file describing the mobile app is also available as open source in the same repository on GitHub so the mobile application can be easily customized as well to graph different data, show other financial ratios, or do more sophisticated financial analysis.

SECdb Process Diagram

 

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XBRL Data Quality of SEC Filings in EDGAR


For fundamental investors probably the most important financial information to study are the financial reports from companies that they wish to potentially invest in. For publicly traded companies in the US, the SEC regulates what data needs to be reported and at which frequency, and investors typically access those financial reports through their own brokerage firm’s website, or through publicly available databases from other Internet providers. In addition, all the original filings from all companies are also directly available from the SEC in the EDGAR database. In addition to HTML and PDF versions of those financial reports, the EDGAR database also contains XBRL versions of those company filings since 2007, with the intent of making this data more easily comparable and directly consumable by computer programs for further analysis.

At least that is the goal…

In this article we’re going to look at some issues with the XBRL data quality of company filings in the SEC’s EDGAR database and show the surprising lack of correlation of high-level financial data extracted from the XBRL filings with publicly available financial data about US companies provided, e.g., by Yahoo Finance, Google Finance, and Fidelity Investments, as well as the shocking discrepancies found in the data reported by those separate services amongst one another.

Edgar_Validation

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