All articles tagged with "SEC Filings"
We screened 1,752 SEC filings for recession-resistance metrics — ROIC, FCF margin, interest coverage, leverage, and consistency. The results were counterintuitive: nearly 80% of the strongest companies are in sectors most investors consider cyclical. Defensive sectors scored lower on every single metric. Here are the 15 most recession-resistant operations in the S&P 500, ranked by the numbers.
We computed ROIC from XBRL financial data for four agricultural equipment companies. Deere reports 5.9% consolidated ROIC — nearly identical to AGCO's 5.3%. But Deere's three equipment segments earn 23.8% return on $20.6 billion in segment assets. Financial Services earns 1.6% on $70 billion. The same ROIC number simultaneously hides world-class equipment economics and a $70 billion finance arm with deteriorating credit quality, interest coverage below 2x, and $47.5 billion in commitments. AGCO's FY2025 10-K resolved key uncertainties: the $350M revolver drawdown was fully repaid ($0 at year-end), the PTx Trimble goodwill impairment was a FY2024 charge (FY2025 assessment: clean), and interest coverage recovered to ~4.9x. Replacement parts revenue grew 3.2% to $1,873M while tractor sales fell 23% — the balance sheet signature of an aging fleet. Tariff exposure is wildly asymmetric: Deere faces $1.2B in costs, AGCO just $65M. Titan Machinery has three of four segments at a loss.
At $2,800+ gold, all three major gold miners are profitable. The question is what each does with the windfall. Newmont (NEM) is shrinking — divesting six non-core mines for $3.4 billion, retiring $3.9 billion in debt — and its quarterly ROIC peaked at 19.1% in Q2 2025 before declining to 16.9% in Q3. But NEM's 20-quarter median ROIC is 5.6%, and $1.1 billion in divestiture gains inflate current earnings. Agnico Eagle (AEM) produces gold at the industry's lowest all-in sustaining cost — $1,339/oz in FY2025, up $100/oz from FY2024 due to higher royalties — from mines concentrated in Canada, Australia, and Finland. AEM generated record free cash flow of $4.4 billion and grew reserves to a record 55.4 million ounces. Barrick (B) holds 85 million ounces in reserves but its AISC rose to $1,637/oz in FY2025 — making it unprofitable below $1,637 gold while AEM breaks even at $1,339. Barrick's Mali crisis was resolved in December 2025 after costing an estimated $1.25 billion. This analysis compares per-ounce economics, capital allocation strategies, and jurisdiction risk using SEC filing data.
Five US-listed rare earth and critical minerals companies hold a combined ~$16 billion market cap. We computed cash runway, dilution velocity, and project funding gaps from their latest 10-Q XBRL data — then cross-referenced every government funding headline against what the SEC filings actually disclose. Key findings: NioCorp is 27% funded for the $1.14B Elk Creek Project with an EXIM timeline they 'cannot estimate.' Perpetua is 32% funded for a $2.2B project facing two federal lawsuits. NB shareholders have been diluted 210% from baseline. MP Materials is the only company with binding customer contracts and government price protection — but it's still burning $230M per year in free cash flow.
We computed ROIC from XBRL financial data for every NYSE-listed copper miner with processed filings. Freeport-McMoRan (FCX) — the world's largest publicly traded copper producer — earns the lowest return on invested capital at 9.2%, while Southern Copper (SCCO) generates 24.2% on half the revenue. The 10-K filings reveal why: FCX's Indonesia operations depend on $2.82/lb gold credits to achieve negative cash costs, while SCCO's $0.89/lb cost structure is built on vertical integration and 60-year mine lives.
Our analysis of 2,100+ SEC filers reveals that cost of revenue reporting in XBRL is even more fragmented than revenue. Only 38% of filers use the most common element (CostOfGoodsAndServicesSold), 36% have no standard COGS element at all, and ExxonMobil's $199.5 billion in crude oil purchases is invisible to standard extraction — producing a misleading 100% gross margin.
Seven years after ASC 606 became effective, our analysis of 2,100+ SEC filers shows revenue reporting in XBRL remains deeply fragmented. Only 46% of filers use the ASC 606 element exclusively, 25% still use legacy Revenues, and 11% have no standard revenue element at all.
Data centers need contractors. But which contractor stocks are worth buying? This practical framework covers the 5 metrics that matter: ROIC, backlog, operating margin, DSO, and cash conversion—with real benchmarks and SEC filing examples.
At $25B market cap and 41x revenue, Rocket Lab prices in Neutron success. Our 5-pass filing analysis reveals what the narrative misses: Launch Services growth inflated 32% by catch-up accounting, backlog concentration (69% top 5) exceeds revenue concentration, and gross margins compressed from 55% to 37%. Here's what to watch before the rocket flies.
The market bet on CVX after Maduro's arrest, but the data reveals COP's pure E&P model (29.9% ROIC) plus $8.5B in claims creates asymmetric upside. Chevron books zero proved reserves in Venezuela despite being the only US operator. Which exposure would you rather have?
CrowdStrike's 10-Q tells a rare story: risk factors that are actively materializing. Two risks escalated, one is new, and zero have been resolved. The July 19 incident created $101M+ in expenses, litigation with no disclosed maximum exposure, and management admissions that read like warnings, not disclaimers. This is a test case for reading risk factors seriously.
The average 10-K filing contains over 500,000 characters of text. Most investors don't know what sections exist, let alone where to find specific information. This guide breaks down every section and explains what investors actually find in each.
Most investors buy stocks based on tips, news, or gut feeling. The edge comes from going to the source: the company's own financial reports. Here's how to research any stock like a professional, starting from zero.
Earnings quality measures how sustainable and real a company's profits are. High-quality earnings convert to cash; low-quality earnings are accounting tricks. This guide shows you exactly how to evaluate any company using our 3-metric framework with original data.
Reading 10-Q quarterly filings takes 3+ hours per company. For a 20-stock portfolio, that is 240+ hours per year. MetricDuck structures the key insights with QoQ/YoY comparisons so you can analyze any 10-Q in 5 minutes.
Forward guidance is a company official forecast of future revenue, EPS, and margins. Learn where to find it in SEC filings and how to track guidance revisions for 500+ public companies.
Every guide to Form 20-F is written for companies filing it—not investors reading it. This guide shows you which sections to focus on, what to skip, and how to spot red flags in foreign company annual reports.
If you've searched EDGAR for ASML or Novo Nordisk quarterly earnings and found nothing, here's why: foreign companies use Form 6-K instead of 10-Q. This guide shows you exactly how to find quarterly results for any foreign stock.
Foreign companies file Form 6-K for everything from quarterly earnings to routine governance notices. Understanding this catch-all form is essential for analyzing international stocks—here's what you need to know.
If you've ever searched for a 10-Q from ASML, Novo Nordisk, or Alibaba and come up empty, you're not alone. Foreign companies have completely different SEC filing requirements—and understanding them is essential for investing in international stocks.