Data Sources

We use a mix of primary regulatory filings and structured financial feeds. Every number in a company analysis report can be traced back to a source listed here.

Primary sources

SEC EDGAR

• What: official 10-K (annual) and 10-Q (quarterly) filings for US-listed companies
• Why: authoritative, audited, public-record source
• Coverage: all US-listed companies (NYSE, NASDAQ)
• Update frequency: new filings appear within minutes of SEC acceptance

Structured financial feeds

• US market normalization: SEC Company Facts API and related SEC public datasets
• China A-share / Hong Kong normalization: Eastmoney Datacenter endpoints
• Why we use them: they let us turn filings into a normalized cross-company financial dataset faster than manual extraction
• How we treat them: as convenience layers, not final authority. If a structured field conflicts with the filing, the filing wins.

How the pipeline works

1. We fetch raw financial statement data from the relevant primary source or structured feed.
2. We normalize it into a shared schema so the same framework can work across markets.
3. We cache the normalized dataset for repeat analysis.
4. We generate the report against that normalized dataset.
5. On US company pages, we expose filing links back to SEC EDGAR wherever possible.

Source hierarchy

When sources disagree, this is the order we trust:

1. Original regulatory filing
2. SEC structured company facts for US issuers
3. Eastmoney structured market data for CN/HK issuers
4. Our own derived calculations

Coverage notes

• US stocks: full coverage
• A-shares / HK: planned, not yet shipped
• Private companies: out of scope

Update cadence

• Company analysis reports regenerate when a new 10-K or 10-Q is filed
• Ranking pages refresh quarterly with explicit "Last updated" timestamps
• Methodology changes are logged on the methodology page