Why do SEC Filings not match up with CapIQ, or even each other sometimes?
Quick question about modelling; sometimes when I look at certain companies, a more recent SEC filing will show different financial data on the IS, BS, CFS when compared to a one published in the past. I know CapIQ isn't accurate 100% of the time, but it can also show a different number.
For example, Company X will display $1B of revenue for Q3 FY 2020 and $750mm for Q3 FY 2019, but when I look at the 10Q from Q3 2019, it will show $$745mm revenue. Which number should I use, and why is this a thing? Thanks.
bump, any analyst/associate input would be a huge help here. thx
You’d want to use the most recent since it’s the most accurate (as the user below says). FY financials are audited while quarterly financials are not, thus it’s not uncommon for the FY financials to show a different, revised number for a quarter vs. the 10q.
thanks, appreciate it
Use more recent, they often make mistakes and amend them
thanks, appreciate the help
CapIQ uses algorithms to pull in data. What you’ll find after using CapIQ a lot is that it’s wrong a lot. I never trust CapIQ. Just easier to pull from filings
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