Parsing Statement - Financial Modeling Prep API

Parsing Statements

We would like to tell you more about our way of parsing financial statements of companies. Starting from company reporting statement to parsing it to our API. Here is the way we do it:

1. Company Reports Statement

We parse statements from SEC so company needs to report it first (not every company reports their statement the same time as their earnings, there can be even few weeks delay between earnings date and report to SEC). For example To check if Apple reported their statement already you should look here: Apple SEC 10-Q/K Filings.

2. Parsing Statement

We use our own script to get all informations from statement and calculations in some cases when specific fields are not mentioned. Time period between statement reported to SEC and statement parsed into FMP is around 15 minutes. Here are a few of the formulas we use for the fields in case if statement doesn't include them:

operatingExpenses = SellingAndMarketingExpenses + ResearchAndDevelopmentExpenses + GeneralAndAdministrativeExpenses

costAndExpenses = operatingExpenses + costOfRevenue

grossProfit = revenue - costOfRevenue

EPS = netIncome / weightedAverageShsOut

EBITDA = netIncome + depreciationAndAmortization + incomeTaxExpense + interestExpense

totalDebt = longTermDebt + shortTermDebt

netDebt = totalDebt - cashAndCashEquivalents

longTermDebt = totalDebt - shortTermDebt

cashAndShortTermInvestments = cashAndCashEquivalents + shortTermInvestments

totalLiabilities = totalLiabilitiesAndStockholdersEquity + totalStockholdersEquity

totalInvestments = shortTermInvestments + longTermInvestments

totalStockholdersEquity = totalLiabilitiesAndStockholdersEquity - totalLiabilities

freeCashFlow = netCashProvidedByOperatingActivites + investmentsInPropertyPlantAndEquipment

goodwillAndIntangibleAssets = goodwill + intangibleAssets

netChangeInCash = cashAtEndOfPeriod - cashAtBeginningOfPeriod

3. Financials update and CSV files

At the end when statement is added, we are generating new financial growth entry, update our TTM ratios and generate CSV files with new parsed quarter or annual statement.