XBRL
XBRL is a standard format for tagging financial data. The SEC requires public companies to attach a standardized tag to every financial number in their 10-Qs and 10-Ks so that machines can read and compare them directly.
How to read it
The same concept carries the same tag at every company (revenue, for example, is Revenues or RevenueFromContractWithCustomer), which makes it possible to pull data in bulk across companies and across years.
XBRL data comes from legally required filings, making it the authoritative source for checking press-release numbers and third-party databases.
Common pitfalls
- Companies can define their own extension tags, so segment data and unusual line items are not tagged consistently.
- Earnings press releases (8-Ks) usually carry no XBRL. Structured data becomes available only after the 10-Q is filed.
On FinDog
Quarterly financials, balance sheets and segment revenue on FinDog are all drawn from XBRL. Numbers extracted by the model in each earnings analysis are checked against XBRL data, and any discrepancy larger than 2% is flagged.
See it on a stock page →Related terms
- Form 10-QForm 10-Q is the formal quarterly report a public company files with the SEC for each fiscal quarter except the fourth. It contains complete unaudited financial statements, management's discussion and analysis, and updates to risk factors.
- Form 10-KForm 10-K is the annual report a public company files after each fiscal year ends. It contains audited financial statements and the most complete description available of the business, its competition and its risk factors.