Start with the right pair
Choose one issuer and two filing accessions. For a 10-K-to-10-K review, select the same Item in both annual filings. For quarterly updates, compare the same Item in comparable 10-Qs. Record form type, filing date, reporting period, and accession number; a filing date is not necessarily the period end.
If your question is about risk disclosures, Item 1A is a common starting point. For management's discussion, use Item 7 in a 10-K or Item 2 in a 10-Q. Choose a different Item when the question concerns another topic.
Use a diff to navigate, then inspect the source
A sentence-level comparison can surface text that was added, removed, or reworded. It helps narrow the reading workload, but extraction and matching are heuristic. Formatting changes, tables, heading boundaries, reordered passages, and wording edits can affect alignment.
Open both source filings around each excerpt. Confirm that the same section was extracted, read surrounding paragraphs, and check exhibits or notes when the disclosure refers elsewhere. Do not treat a color highlight or a ranked passage as a measure of materiality.
Separate narrative changes from reported-number changes
A textual diff compares words; it does not reconcile financial facts. To see whether a previously reported number changed, compare SEC company-facts observations with the same taxonomy tag and exact reporting period. A changed comparative may result from an amendment, reclassification, or updated filing and is not, by itself, proof of a formal restatement.
For research notes, keep source accession numbers beside both the passage and the financial observation. This makes it easier for another reviewer to reproduce the comparison.
A useful review checklist
- Verify company CIK, form type, accession numbers, and filing dates.
- Compare the same Item and reporting context across both documents.
- Read the complete surrounding passage in the original EDGAR filing.
- Check tables, exhibits, and cross-referenced notes separately.
- Describe the text change without asserting intent, cause, or materiality unless independently established.
Where EdgarStack fits
diff_filing_sections compares the same section and returns added, removed, and modified sentences. filing_change_brief orders selected changes for triage. risk_factor_intelligence and mda_intelligence group passages by fixed keyword taxonomies. These tools help locate source text; they do not replace analyst judgment or the official filing.
Official sources
Use these SEC resources to confirm filing requirements, API behavior, and company-reported facts.