Many of the tools we use at UTL are proprietary, which means they cannot be accessed outside of U of T such as at internships, or when you graduate. The resources linked on this page are publicly accessible and (mostly) free to use - some may charge for extended access or offer a free limited trial.
Federal securities laws require public companies to disclose information on an ongoing basis. This means the public and the media can access financial and other information on the open web.
US companies must submit annual reports on Form 10-K, quarterly reports on Form 10-Q , and current reports on Form-8-K for a number of specified events and must comply with a variety of other disclosure requirements.
The federal securities laws require public companies to disclose information on an ongoing basis. This means the public can access financial and other information on the open web.
Main form types of interest are:
Form 10-K: audited annual report
Form 10-Q: unaudited quarterly report
Form 8-K: current or “material” information
Registration statement (Form S-1) and prospectus (Form F-6)
The annual report on Form 10-K provides a comprehensive overview of the company's business and financial condition and includes audited financial statements. Although similarly named, the annual report on Form 10-K is distinct from the “annual report to shareholders,” which a company must send to its shareholders when it holds an annual meeting to elect directors.
The annual report on Form 10-K, which must be filed with the SEC, may contain more detailed information about the company’s financial condition than the annual report and will include the annual financial statements of the company. Companies sometimes elect to send their annual report on Form 10-K to their shareholders in lieu of, or in addition to, providing shareholders with a separate annual report to shareholders.
The 10-K begins with a detailed description of the business, followed by risk factors, a rundown of any legal issues, and, finally, the numbers and financial notes in the back. Oftentimes, the most essential components of the annual filing are the following items:
Item 1: Business - a description of the company's operation
Item 1A: Risk Factors
Item 3: Legal Proceedings
Item 6: Selected Financial Data
Item 7: Management's Discussion and Analysis of Financial Condition
SEDAR (System for Electronic Document Analysis and Retrieval) is the official site that provides access to most public securities documents and information filed by issuers with the thirteen provincial and territorial securities regulatory authorities ("Canadian Securities Administrators" or "CSA"). Companies traded publicly on exchanges such as the Toronto Stock Exchange are required to file annual reports and other documentation.
The SEDAR site provides you with three search options - NEW FILINGS, ISSUER PROFILES and SEARCH DATABASE.
1. Select "Search database"
2. Select "Search for COMPANY documents"
3. Search by (full) company name, file type, or industry group. Documents are available electronically back to 1997.
Main file types of interest are:
4. If a company doesn't appear in the results, check the name. If you're sure it's right, the company may not be publicly traded in Canada.
Because there are no disclosure requirements for private companies, it can be difficult to find ainformation about them.
Your best bet is to cast as wide a net as possible, using the following search strategies:
If the company was previously public but has gone private, you can still access their historical public filings from when they were a public company. Check Annual reports and regulatory findings.
NAICS (North American Industry Classification System) is a system developed jointly by the statistical agencies of Canada, the US, and Mexico to describe economic activity and divides the economy into:
-20 sectors (2-digit codes)
-102 subsectors (3-digit codes)
-322 industry groups (4-digit codes)
-708 industries (5-digit codes)
-923 Canadian industries (6-digit codes)
NAICS codes are comparable across Canada, the US, and Mexico at the 5 digit code level. Note: unique national industries will have a 6 digit code.
Industry profiles identify leading companies and provide market forecasts, market segmentation and industry trends.
For freely available information, check out consulting firm (Deloitte, Ernst & Young, PWC, KPMG) websites to see if they have industry reports. You can often search offices by region. Also check bank websites; law firms may have reports for industries like mining or M&A industry reports; government industry and statistical data sites are also good sources of information.
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