10-K · ANNUAL · DEEP
10-K
annual filing auditor opinion risk-factor diffs
GLOSSARY · WHAT IS A 10-K FILING? · v1.0 · LIVE
📚 What is a 10-K Filing?

Annual deep dive—the the canonical fundamental file.

The 10-K is the most comprehensive annual filing — auditor opinion, full financials, risk factors, MD&A. Reading the risk-factor changes year-over-year is one of the highest-signal exercises in fundamental analysis.

10-K overview

The 10-K is the most comprehensive public document a company files with the SEC. It is the audited annual report covering the full fiscal year: revenue, expenses, cash flow, debt, risk factors, legal proceedings, executive compensation, and segment breakdowns. Unlike the glossy shareholder letter, the 10-K contains raw, legally binding financials that analysts and traders actually read.

Key sections traders focus on

SectionWhat to look for
Item 1A — Risk FactorsNew risks added vs. prior year. Sudden additions signal material changes management sees coming.
Item 7 — MD&AManagement discussion of results. Tone shifts between years reveal internal sentiment.
Item 8 — Financial StatementsAudited income statement, balance sheet, and cash flow. Compare margins and cash conversion year over year.
Item 1C — CybersecurityNew SEC requirement since 2023. Reveals breach history and risk management maturity.
Item 15 — ExhibitsMaterial contracts, executive employment agreements, and subsidiary list. Gold mine for M&A due diligence.

10-K vs 10-Q vs 8-K

FilingFrequencyAudited?Signal speed
10-KAnnualYesSlow (60-90 day lag)
10-QQuarterlyNoModerate (40-45 day lag)
8-KEvent-drivenNoFast (4 business days)

For trading catalysts, 8-K filings matter most because they report material events in near real-time. The 10-K matters for building a fundamental thesis — especially for deep value plays where you need the full financial picture.

Filing deadlines by company size

Filer categoryPublic float10-K deadline
Large accelerated> $700M60 days after fiscal year end
Accelerated$75M – $700M75 days
Non-accelerated / SRC< $75M90 days

How Catalyst Edge uses 10-K data

The scanner reads 10-K filings for sentiment analysis, extracting risk language and financial metrics that feed into the Catalyst Score. When a company with strong 10-K fundamentals also shows insider buying or a catalyst 8-K, the convergence gets flagged as a high-conviction setup.

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Frequently Asked Questions

What is the difference between a 10-K and an annual report?

A 10-K is the SEC-mandated annual filing with standardized sections and audited financials. A company's glossy annual report is a marketing document. The 10-K is the legally binding version with the complete, unvarnished numbers.

How is a 10-K different from a 10-Q?

The 10-K covers the full fiscal year with audited financials and comprehensive disclosures. The 10-Q covers a single quarter with unaudited numbers and abbreviated discussion. 10-K filings are far more detailed and include risk factors, legal proceedings, and executive compensation.

When are 10-K filings due?

Large accelerated filers (public float over $700M) must file within 60 days of fiscal year end. Accelerated filers ($75M-$700M) have 75 days. Non-accelerated and smaller reporting companies have 90 days.

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