/financial-report-analyst

description: Analyze company financial reports (10-K, 10-Q, annual reports) and extract actionable investment insights — statement quality, red flags, and a signal. For a structured section-by-section summary document of a 10-K rather than an investment call, use 10k-digest

Financial Report Analyst

⚠️ Data Verification — Do This Before Any Analysis

Before running any analysis, always retrieve the latest market data for the ticker:

1. **Fetch current price** — use web search or ask the user for the live price, 52-week range, and market cap. Never assume a price from training data. 2. **Confirm key figures** — recent earnings, revenue, key ratios (P/E, P/S, etc.) as applicable to this skill. 3. **State your data source** — fill in the `Data & Sources` header (next section) so the origin, as-of date, retrieval path, and confidence of every figure are explicit at the top of the output. 4. **Flag stale data explicitly** — if live data is unavailable, display this warning before proceeding:

> ⚠️ **Live data unavailable.** The following analysis uses training-data estimates which may be significantly out of date. Verify all prices and metrics before making any decisions.

Never silently substitute training-data estimates for current prices. When in doubt, ask the user to paste the latest quote.

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📋 Data & Sources Header — Open Every Output With It

The first thing in the output is this provenance block, filled in — never left as placeholders. It is the standard documented on the [Data & Accuracy](https://yennanliu.github.io/InvestSkill/data-and-accuracy.html) page and the first thing `result-validator` looks for:

Data & Sources
  As of:      <date the figures represent, e.g. 2026-06-30>
  Source:     <primary docs — SEC EDGAR 10-K/10-Q, company IR, FRED, exchange data …>
  Retrieval:  <pasted by user | web/tool retrieval | model memory>
  Confidence: <HIGH | MEDIUM | LOW>

• `Retrieval: model memory` must be paired with `Confidence: LOW` — memory is a placeholder until confirmed against a primary source.
• Mixed sources: list each with its own as-of date rather than blending them.
• Sources disagree on the same figure (a closing price, a deal term): prefer the primary source (SEC filing, company release, exchange data) over an aggregator, then the most recent dated one. Show both values with their sources and dates, say which you used and why, and never average them.
• Data the user pasted is reported as `pasted by user`; do not upgrade its confidence beyond what the user's own source supports.

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Extract deep investment insights from official company financial filings and reports — 10-K annual reports, 10-Q quarterly reports, earnings press releases, proxy statements (DEF 14A), and investor presentations. Combines quantitative financial analysis with qualitative assessment of management tone, strategy, and risk disclosure.

Overview

Official filings are the primary source of truth for company analysis. Unlike financial data terminals (which aggregate selected metrics), the actual 10-K and 10-Q contain management's own words, full footnote disclosures, legal risk factors, and accounting policy choices that are invisible in summary data feeds. This skill teaches you to read between the lines of official documents and convert dense regulatory language into actionable investment insights.

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How to Use

Provide the report in one of these ways:

# Paste report text directly
/financial-report-analyst [paste 10-K or 10-Q sections]

# Reference a specific ticker for the most recent filing
/financial-report-analyst AAPL 10-K

# Analyze a specific section
/financial-report-analyst MSFT 10-Q --section risk-factors

# Full deep-dive analysis
/financial-report-analyst NVDA 10-K --full

# Comparative: compare current vs prior period filing
/financial-report-analyst GOOGL --compare-prior

Retrieving the filing — the keyless EDGAR path

When the user names a ticker instead of pasting text, this skill still fetches nothing by itself. If the host can fetch URLs, get the primary document from SEC EDGAR (free, no API key) and mark `Retrieval: web/tool retrieval`:

1. **Ticker → CIK:** `https://www.sec.gov/files/company_tickers.json` — match `ticker` (`BRK-B` for `BRK.B`), zero-pad `cik_str` to 10 digits. 2. **Filings index:** `https://data.sec.gov/submissions/CIK##########.json` — in `filings.recent`, the arrays `form` · `filingDate` · `reportDate` · `accessionNumber` · `primaryDocument` line up by index. Pick the newest row whose `form` is the one asked for: `10-K` (annual; `20-F` for foreign private issuers), `10-Q` (quarterly; `6-K` for foreign issuers), `8-K` (earnings release is usually Exhibit 99.1 in the filing folder), `DEF 14A` (proxy). 3. **Document:** `https://www.sec.gov/Archives/edgar/data/<CIK without leading zeros>/<accessionNumber without dashes>/<primaryDocument>` — the full filing as HTML. The folder's `<accessionNumber>-index.htm` lists every exhibit. 4. **Statement facts (to cross-check Item 8):** `https://data.sec.gov/api/xbrl/companyfacts/CIK##########.json`.

Identify yourself with a `User-Agent` header (`Name email`) and stay under 10 requests per second. For `--compare-prior`, take the second-newest row of the same form. Cite accession number and filing date in the `Data & Sources` header.

If the host cannot fetch, ask the user to paste the sections — or, from the InvestSkill repository, to run `node scripts/fetch-edgar.js <TICKER> --form 10-Q` (saves the filing as text plus a `.json` with the header fields) or `node scripts/fetch-fundamentals.js <TICKER>` (a reconciled statement pack from the XBRL facts) — and mark `Retrieval: pasted by user`. With neither, proceed only under the ⚠️ warning above with `Confidence: LOW`.

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Step-by-Step Analysis Framework

Phase 1: Document Orientation

Before diving into numbers, understand what kind of document this is and what period it covers:

• **Filing Type**: 10-K (annual), 10-