When using your firm's model to look at a company, do you usually go through and scrub your own historical numbers from a company's SEC filings or do you use the scrubbed numbers that a service like CapIQ provides and trust that they are correct?
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You never use numbers from CapIQ for a model. At least we never do.
At my PE fund we use the excel add-on from CapIQ and download the numbers.
The thing about capital IQ is that sometimes they group together stuff you don't necessarily want.
Follow Capital IQ if you are in a rush. Use SEC if you want a real complete model
cap IQ is really good on sourcing their data though and also pretty good at breaking addbacks down.. but you should scrub SEC then check with cap IQ
numbers you do yourself and get from SEC filings are the purest. anything and anywhere else is quick back of hands used for quick analyses
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