Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Wednesday, January 2, 2019
Quants: Point-in-Time Data for Backtesting

Friday, December 28, 2018
Now Showing: Controls & Procedures

Thursday, December 27, 2018
A Reminder on Non-GAAP Reporting Rules

Monday, December 17, 2018
Researching PG&E’s Wildfire Risk

Wednesday, December 12, 2018
Tracking Brexit Disclosures

Thursday, December 6, 2018
Campbell Soup: Looking Behind the Label

Sunday, December 2, 2018
SEC Comment Letters: The Amazon Example

Wednesday, November 28, 2018
Measuring Big Pharma’s Chemical Dependency

Monday, November 26, 2018
Analysts, Can You Relate? A True Story

Monday, November 19, 2018
Digging Up Historical Trend Data: Quest Example

Sunday, November 11, 2018
Cost of Revenue, SG&A: Q3 Update

Monday, November 5, 2018
Lease Accounting: FedEx vs. UPS

Saturday, November 3, 2018
New Email Alerting Powers

Wednesday, October 31, 2018
PTC and Two Tales of Revenue

Tuesday, October 30, 2018
10-K/Q Section Text Change Detection

Sunday, October 28, 2018
Finding Purchase Price Allocation

Sunday, October 21, 2018
Charting Netflix Growth in Three Ways

Archive  |  Search:
How Long Do We Wait?
Wednesday, January 27, 2016

As we await the arrival of 10-K’s from firms whose fiscal years ended in December, we thought that we would see if our data could tell us when we might be able to see some information.

After all, who can’t wait to dig into those juicy footnotes?

So, we took a look using the data that we had from last year. Using all firms that had a Fiscal Year End of December 31st and those that reported Revenue of at least $1 Billion (1141 filings), we found that the average wait time was 56 calendar days.

For the biggest 100 revenue producing firms the wait time was averaging 54 days.

Which top firms were the fastest? Here is the list (slowest on the next table at the bottom)

* Caveat * This is only for firms that have a fiscal year end of December 31, examples like Apple, Oracle and Microsoft are NOT included in the list

Days From FiscalYear End to Filing
United Rentals Inc /DE 21
Mdc Holdings Inc 28
Amazon Com Inc 29
Schlumberger Ltd /NV/ 29
Facebook Inc 29
Broadcom Corp 29
Netflix Inc 29
Kansas City Southern 30
Northrop Grumman Corp /DE/ 33
Sensata Technologies Holding N.V. 34
General Motors Co 35
Biogen Inc. 35
Pultegroup Inc/MI/ 35
Chipotle Mexican Grill Inc 35
United Technologies Corp /DE/ 36
Dupont E I De Nemours & Co 36
Arrow Electronics Inc 36
Ebay Inc 36


Days From FiscalYear End to Filing
Trinet Group Inc 89
Universal American Corp. 89
Phoenix Companies Inc/DE 89
VEREIT, Inc. 89
InvenTrust Properties Corp. 86
Smithfield Foods Inc 84
Smart & Final Stores, Inc. 84
Veritiv Corp 83
Tribune Publishing Co 83
Affinion Group Holdings, Inc. 78
Chiquita Brands International Inc 77
Triple-S Management Corp 77
Zebra Technologies Corp 76
First Niagara Financial Group Inc 76
Sprague Resources LP 75
Ryerson Holding Corp 75
Primoris Services Corp 75

There are academic papers that spend more time on this topic (aka “the Audit Delay”) than we do. See here for an example

** In an original posting, 3 firms were misidentified with Fiscal Year Ends in December. The issue was corrected and the firms were removed from the list. Calcbench apologizes for the mistake.

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