Learn investing from the filings themselves.

What Filing.fyi is

A free, plain-English reading of public companies' SEC filings. For each covered company you get a write-up of its latest annual or quarterly report, four forensic scores computed from the numbers in that report (Beneish M-Score, Altman Z″-Score, Piotroski F-Score and a readability index), a timeline of its filings with links to the originals on SEC.gov, and short lessons on every term the page uses. Every page, score and filing link is free, with or without an account.

The idea is simple: a 10-K is the most honest long document a company publishes about itself, and almost nobody reads it. Filing.fyi reads it with you.

Who it is for

• Someone who owns, or is thinking about, a stock and wants to understand the business behind it rather than the chatter around it.
• A student or new investor who learns better from a real example than from a glossary.
• Anyone who has ever opened an annual report, hit "Item 7. Management's Discussion and Analysis", and closed the tab.

You do not need an account to read anything. Signing in is only for three conveniences: asking us to refresh a page after a company files, keeping a watchlist, or buying the optional ad-free plan.

How it is made

There is no human analyst. Filing.fyi is software, and we say so on every page where its output appears.

• The numbers come from the company's own filings. Public companies tag their financial statements in a machine-readable format (XBRL) when they file with the SEC; we pull those tagged figures straight from EDGAR. We do not purchase aggregated data from a vendor.
• The four scores are mechanical formulas from published academic research, computed from those figures. No model guesses them and no person adjusts them. The methodology page gives each formula, its source paper and its known weaknesses.
• The write-ups are generated by a large language model from the text of the filing and the computed scores, with a fixed prompt and automated checks. They are not edited by a person before they go live. They can be wrong, and where they matter you should check the sentence against the filing it cites.
• The lessons at /learn are written for a reader with a high-school education: one idea at a time, small numbers, a worked example.

What the four labels mean

Every company page carries one of four labels: Deep Value, Fairly Valued, Watch or Red Flags. They are summaries of what the filings show about financial health and accounting quality, built from the four scores. They are a reading aid, not a verdict on the stock.

• Deep Value means the scores are strong across the board. It does not compare the share price with what the business is worth, and it is not a signal to trade. A company can carry this label while its shares are expensive.
• Fairly Valued means the scores are solid without standing out. It does not say the price is right.
• Watch means the scores are mixed. It does not say you should do anything.
• Red Flags means the scores are weak. It does not say fraud has occurred, that the company will fail, or that anyone should act.

We teach you how to read a company's filings. We don't tell you how to trade; that is between you and your financial advisor.

What it is not

• Not investment advice, and not personalized to you. The site does not know your finances, goals, taxes or time horizon.
• Not a broker, a fund, a newsletter of stock picks, or a registered investment adviser. Nothing on the site is a recommendation to transact in any security.
• Not a source of live prices. Market data on the site is delayed and shown for context only; use your broker for anything that needs a current quote.
• Not a substitute for the filing. The write-up is a reading of the document, with links to the original. When the two disagree, the filing is right.

How it is funded

Three ways, none of which changes what you can read.

• Display ads. Readers who are not on the ad-free plan see ads served by Google, at most one per page.
• An optional ad-free plan, $4 a month or $36 a year. It removes ads, raises the daily page-refresh limit from 5 to 25, and emails you when the analysis of a company on your watchlist changes or it files a major 8-K. It does not unlock any data; every page and score is free for everyone. Details on the pricing page.
• Book links. Some lessons recommend a book. Those links go to Amazon through the Hootrated Associates account, and Filing.fyi earns a commission on qualifying purchases at no extra cost to you. Each link is marked where it appears; see the affiliate disclosure.

Who runs it

Filing.fyi is run by a small team at Hootpods LLC, a Florida limited liability company and the site's operating entity. We read email lightly but we do read it; the support page says how to reach us and what to expect. If you find an error, tell us: the correction process is described on the methodology page.