About / Methodology

How this site works, where the data comes from, and what you can (and can't) trust.

What this is

EDGAR Terminal is a free, open tool for exploring U.S. SEC filings and financial data. It's built for people who want to check the footnotes — students, analysts, journalists, curious investors — not for high-frequency traders or institutional users.

All data comes directly from the SEC's official public APIs. Nothing is scraped, manipulated, or interpreted through a third-party layer. What you see is what the company filed.

The site is intentionally free, lightweight, accountless, and ad-free. There is no login, no email capture, and no paywall.

Basic Vercel Analytics and Speed Insights are used to monitor aggregate page health and performance. They do not create accounts, gate content, or collect emails.

Market section

The SEC Market Risk Atlas at/marketextends EDGAR Terminal from single-company analysis into a cross-company filing map.

It groups public-company filings into market-risk weather, trade-book exposure, asset-class exposure indexes, derivatives exposure signals, and geographic filing drivers. It is meant to help users start from a market theme and drill back into the source companies, SEC facts, and disclosure language behind that theme.

Open SEC Market Risk Atlas

What the tool does

Filings Browser

/filings/:ticker

Every filing a company has submitted to SEC, starting with a source-linked filing pulse for latest annual, quarterly, current report, proxy, recent volume, and high-signal 8-K activity. The full filing tree is grouped by year and quarter, filterable by form type, and every filing links to the original document on SEC.gov.

Financial Analysis

/analysis/:ticker

Structured financial data pulled from SEC's XBRL 'Company Facts' API. Overview includes SEC data coverage, filing activity, material event radar, disclosure risk radar, key metrics, quality snapshot, quarterly momentum, expense discipline, profitability bridge, earnings quality, growth durability, per-share economics, capital efficiency, asset composition, balance sheet risk, cash conversion, capital allocation with payout coverage, and a source-linked analyst checklist. Toggle between annual (10-K) and quarterly (10-Q) views. Growth columns (YoY, 5Y CAGR, 10Y CAGR) on every metric.

Market Overview

/market

SEC Market Risk Atlas that rolls company-level filing evidence into market-wide lenses: trade-book exposure, market-risk weather, asset-class exposure indexes, derivatives exposure dashboards, and geographic risk signals. The page is designed as a thematic entry point before drilling back into individual filings and disclosure excerpts.

Industry-Specific Ratios

/analysis/JPM

Ratios automatically adapt to each company's SIC classification. Banks get NIM, Efficiency Ratio, Loan-to-Deposit, Allowance Coverage. Tech gets R&D Intensity, FCF Margin, Rule of 40. Retail gets Inventory Turnover, Days Inventory, DSO. REITs, oil & gas, and airlines receive warnings for metrics XBRL doesn't support.

Stock Price + Filing Markers

/analysis/AAPL

10-year daily stock price history from Yahoo Finance (primary) with Stooq fallback. 10-K filings marked amber, 10-Q filings emerald. Click a marker to open that filing. Insider buys and sells overlaid as colored dots scaled by transaction value.

Insider Activity

/analysis/NVDA

Form 4 XML filings parsed to show insider transactions. Summary cards for buys, sells, net flow, and unique insiders. Full transaction table with filter tabs (All / Buys / Sells). Chart markers link to the original Form 4 XML.

Peer Comparison

/compare/:tickers

Up to 5 companies side-by-side across 10 fiscal years. Head-to-head snapshot table with color-coded best/worst per metric. Normalization modes: Absolute, Indexed to 100, Per Share, % of Revenue. Ratio overlays (ROE, ROA, margins). Growth rate bar charts. 12 pre-defined peer groups for one-click comparison.

Disclosure Keyword Search

/disclosures

Searches the SEC EDGAR full-text index with optional company/ticker focus plus date, filing-form, and result-count filters for broad source discovery, including source-window, filer-concentration, and filing-mix signals. It can also scan recent SEC filings (10-K, 10-Q, 8-K, S-1, DEF 14A, N-CSR, 20-F, 40-F) across up to 5 hand-picked companies, curated 8-company sector universes, or a bounded cross-sector Market Map with paragraph-level excerpts. Index hits and scanner excerpts link directly to the source filing. Manual scans are depth-limited to 50 recent filings per ticker; universe and Market Map scans use shallower defaults to respect SEC fair-access limits. Results cache for 24 hours by ticker and query where applicable.

Methodology

Source of financial data

Financial values come from SEC's XBRL Company Facts API (data.sec.gov/api/xbrl/companyfacts/CIKxxxxxxxxxx.json). The XBRL parser uses period-end date matching and a latest-filed priority to select the correct value when the same fiscal period has been reported multiple times.

Industry classification

SIC (Standard Industrial Classification) codes drive industry-specific logic. For example, SIC 6020-6299 triggers banking ratios; SIC 7370-7379 triggers tech-oriented ratios like Rule of 40. The classification is automatic but not always precise for conglomerates.

Calculated ratios

Some ratios (ROE, ROA, margins) are computed from reported XBRL values rather than taken directly from company press releases. These may differ slightly from company-published non-GAAP numbers. The formulas are documented inline in tooltips.

Market overview methodology

The Market Overview page groups curated public-company cohorts into SEC filing lenses. It combines XBRL facts where available with bounded disclosure scans for risk-language context. Universe scans use shallower defaults than single-company searches so the atlas can stay useful without over-querying SEC endpoints.

Stock price data

Stock prices use Yahoo Finance's public chart endpoint as primary source, Stooq as fallback. Prices are adjusted for splits and dividends. Some tickers (especially recent IPOs or foreign listings) may have incomplete history or fail to load. Financial data from SEC is unaffected when price data is unavailable.

Form 4 parsing

The most recent 20 Form 4 XML documents per company are parsed on demand. Transaction codes follow SEC convention: P=purchase, S=sale, A=award, M=exercise, F=tax withholding, G=gift, D=dispose. Only "open-market" buys (P) and sells (S) are highlighted on the chart; compensation-related transactions are shown but marked differently.

Disclosure keyword search

EDGAR Index mode queries the SEC full-text index for matching source filings across the broader EDGAR corpus with optional company/ticker focus plus date, form, and result-count filters and links each hit to the SEC archive document. Manual searches fetch up to 50 recent filings per ticker from SEC EDGAR. Curated universe searches scan 8 companies at a shallower default depth so broader research stays bounded. Market Map searches interleave companies from every curated universe into a diversified 40-company basket and scan the two most recent eligible filings by default. The scanner strips HTML to plain text and matches literal user-provided words or phrases using escaped regex patterns with word boundaries. For each match, the surrounding paragraph is extracted as context. Rate-limited to 8 requests per second to respect SEC fair access policy. Scanner results are cached in Upstash Redis for 24 hours by ticker, query, and depth. Keyword matching is exact but still requires context: a term may appear in a legal boilerplate section, a risk factor, a business description, or a footnote.

Disclaimer

This is a research and educational tool. It is not investment advice.

Nothing on this site constitutes a recommendation to buy, sell, or hold any security. The operator is not a registered financial advisor or broker-dealer. Always consult a qualified professional before making investment decisions.

While data comes directly from SEC.gov, no warranty is made regarding accuracy, completeness, or timeliness. XBRL filings can contain reporting errors, restatements, or non-standard tagging that affects how values display. Stock price data from Yahoo and Stooq is believed accurate but not verified.

Always verify critical numbers against the original filing before making any decision.