The reason that these filings are valuable for valuators is that they are based on a significant amount of research and can include topics such as risk factors, trends, and industry-specific discussions. The disclosures can potentially provide information that is pertinent to a valuation that is related to both industry segments and location.
The S-1 database includes ten years of filings with over 82,500 records. The database is based on S1 SEC filing used by companies planning on going public to register their securities with the U.S. Securities and Exchange Commission (SEC).
How it Works
There are two ways to search the database, the first is by SIC code, or industry type. This provides the industry specific perspective and reviewing S1 filing can shed light on industry trends, forecasts, risk, etc. the second way to search the database is by location, which provide a geographic perspective. Since there are only a few sections in an S1 that provide relevant information for valuators, they are very quick to skim.
The main S-1 screen allows you to select a SIC code or SIC Description. The detailed search tab shown below, allows you to search for SIC, SIC description, filing date, location, and form type.
After searching for SIC 5812 (restaurants), you will see the following 518 records displayed:
If you wanted to narrow down the search based on filing dates, you can enter a Start and End filing date. For example, if you enter a Start Date of 1/1/15 and End Date of 12/31/15, the records found would be reduced to 28. To view a record, select the “view” link, which will take you to the SEC/EDGAR page with that record. Select the first link on the page and the filing will open.
You can now scroll through the document, review the table of contents and then review any relevant sections.
The following shows the open S1 filing:
Click here to learn more about S-1 Filings.