# Reading Financial Data - Step by Step

Informational only - not investment advice.

A short field guide for reading grepcent pages. Each lesson uses real public-source data already in the site.

Every worked example is generated from grepcent's current public-source data.

## [Economic indicators](/guide/economic-indicators/)

Read a macro series by looking at its latest observation, units, and source.

- [What is CPI?](/guide/economic-indicators/what-is-cpi/): CPI is an index that tracks prices for a broad consumer basket.
- [Reading the unemployment rate](/guide/economic-indicators/reading-unemployment-rate/): The unemployment rate is a percent of the labor force.
- [The fed funds rate](/guide/economic-indicators/fed-funds-rate/): The fed funds rate is a short-term interest-rate series.
- [The yield curve and the 10-year minus 2-year spread](/guide/economic-indicators/yield-curve-10y-2y/): A yield spread compares two interest rates by subtracting one from the other.
- [What GDP measures](/guide/economic-indicators/what-gdp-measures/): Real GDP measures economy-wide output after adjusting for price changes.

## [Reading a company's financials](/guide/company-financials/)

Use SEC companyfacts to read revenue, margins, EPS, the balance sheet, and growth.

- [What is revenue?](/guide/company-financials/what-is-revenue/): Revenue is the top-line amount a company reports from its business activity.
- [Gross, operating, and net margin](/guide/company-financials/gross-operating-net-margin/): Margins turn income-statement dollars into percentages of revenue.
- [What is EPS?](/guide/company-financials/what-is-eps/): Diluted EPS is earnings per share after including dilutive shares.
- [Balance sheet basics](/guide/company-financials/balance-sheet-basics/): A balance sheet shows what a company owns, owes, and what remains for shareholders.
- [Revenue growth](/guide/company-financials/revenue-growth/): Revenue growth compares one fiscal year with the immediately prior fiscal year.

## [Company filings and the story behind the numbers](/guide/filings-and-story/)

Use 10-Ks, 10-Qs, MD&A, and thread pages as plain reading aids.

- [What is a 10-K vs. a 10-Q?](/guide/filings-and-story/ten-k-vs-ten-q/): A 10-K is annual. A 10-Q is quarterly.
- [What is MD&A?](/guide/filings-and-story/what-is-mda/): MD&A is management's discussion of financial condition and results of operations.
- [What are risk factors?](/guide/filings-and-story/what-are-risk-factors/): Risk factors are a filing section that names uncertainties the company discloses.
- [How a macro thread connects pages](/guide/filings-and-story/macro-to-company-thread/): A thread gathers a macro theme, mapped SIC sectors, company financials, and literal MD&A mentions.
- [Source links and as-of dates](/guide/filings-and-story/source-links-and-as-of-dates/): Every reading should include where the number came from and when it was current.