Retrieving Financial Statements

We've covered a lot in this course. 0:00 I hope you feel more confidant with your ability to look at the profit and 0:02 loss statement, the balance sheet, and the cash flow statement, and 0:06 have a better idea of what's going on. 0:09 Don't worry if you don't feel 100% comfortable. 0:13 It's a learning process. 0:16 It's not something you just download and master, at least not yet. 0:17 Maybe in our lifetimes, depending on how things progress, 0:21 but that's a separate issue. 0:24 You have an enhanced vocabulary now, and a better overview. 0:26 In this section of the course, I'm going to show you how to retrieve financial 0:30 statements from publicly listed companies, how I typically read annual reports, 0:34 and talk through a few other concepts related to financials. 0:40 Let's get started. 0:43 Maybe you're already working in a finance or accounting department, or have 0:46 PNL responsibility to company, so you're looking at financial statements regularly. 0:50 For many of us though, that's not a regular part of our day to day. 0:55 Fortunately, because of public markets, we already have access to the financials 0:59 of hundreds of companies of various sizes and 1:04 ages across a wide variety of industries and geographies. 1:07 In the US, the Securities and Exchange Commission, or SEC, 1:11 is a federal agency that oversees, among other things, publicly listed companies. 1:15 The SEC requires publicly listed companies to disclose certain types of information, 1:21 and one of those requirements is a Form 10-K. 1:27 In the teacher's notes, 1:30 there is a link to more details on SEC requirements in case you're curious. 1:32 There are other governmental bodies in different countries which 1:36 provide a similar function to the SEC. 1:39 Let's track down the financial statements of a US based company, and afterwards, 1:42 the financial statements of a company listed in Singapore. 1:46 So I'm gonna go to Apple and look for their financials. 1:50 Usually at the bottom of the page there'll be, for a large publicly listed company, 1:55 there'll be a link to investors or investor relations. 1:59 And here I am in the investor relations section of Apple's website. 2:04 You can see there's the stock price financial information, 2:09 SEC filings, leadership and governance and more. 2:12 So I am going to download their 10-K. 2:17 Let's look at the SEC filings section. 2:22 We see there's different filters that we can apply. 2:27 I can look at Annual filings, Quarterly filings, and I can also change the year. 2:30 So I wanna get the Annual filing section. 2:37 And here's their most recent 10-K, which is for the fiscal year of 2018. 2:42 So you can download it in a few different file formats. 2:48 I'm gonna download their PDF. 2:50 And in the next video we'll go through the 10-K in detail. 2:53 Now let's get the financial statements for United Overseas Bank, 2:59 or UOB, a Singapore-based publicly listed company. 3:03 I'm gonna go directly to their investor relations page, hopefully yes, here we go. 3:08 And you can see there's a link to the annual report. 3:16 Let's see what happens when I go to Investor Resources. 3:19 Well, these look like strategies. 3:23 Let's go back Financials, 3:26 And again, you can filter by year. 3:36 And here's their filing for the fiscal year ending December, 2018. 3:42 Got a letter, and then yeah, you get into the financial statement. 3:48 So you can see that, not only do US companies have publicly 3:52 available financial statements, but in countries all around the world you'll be 3:56 able to track down financials for publicly listed companies, as well. 4:00 Of course, there are also other websites and 4:04 services that have company financial information. 4:07 There's no shortage of financial statements on the internet that you can 4:10 easily retrieve, so even if you don't have access to your company's financial 4:14 statements, You can still practice and conduct analysis on other entities. 4:19 In the next video, 4:24 I'll show you how I go about reading a 10-K from a publicly listed company 4:25