SEC 20-F Filings

Analysis of SEC 20-F filings (the international equivalent of a 10-K) for companies headquartered outside the US but listed on American exchanges. This insight surfaces long-term strategic plans, operational risks, and business model shifts for global enterprises.

Why This Insight Matters

Global Enterprise Coverage — Access insights for major international players like SAP, ASML, and Toyota.
Strategic Disclosures — Annual reports contain detailed roadmaps and management priorities.
Risk Assessment — Identify officially documented business risks to position your solution as a mitigant.
Financial Context — Understand the global financial health and regional performance of the company.

Available Subtypes

Signal	Subtype Enum	Description
AI Investment	`aiInvestment`	AI/ML specific investments or strategic priorities
Strategic Initiative	`strategicInitiative`	Long-term strategic plans, R&D focus, or major business pivots
Digital Transformation	`digitalTransformation`	Digital transformation initiatives or cloud migration
Market Expansion	`marketExpansion`	Geographic or market segment expansion plans
Leadership Change	`leadershipChange`	Changes in key executives or board composition
Acquisition Strategy	`acquisitionStrategy`	M&A activity or acquisition strategy
Restructuring	`restructuring`	Organizational restructuring or workforce changes
Risk Factor Update	`riskFactorUpdate`	Significant changes to company risk factors
Regulatory Pressure	`regulatoryPressure`	Regulatory compliance challenges or requirements
Competitive Pressure	`competitivePressure`	Competitive threats or market share concerns
Strategic Partnership	`strategicPartnership`	Major strategic partnerships or alliances
Cost Optimization	`costOptimization`	Cost reduction or efficiency initiatives
CapEx Increase	`capexIncrease`	Major capital expenditure increase announced
Tech Stack Modernization	`techStackModernization`	Legacy system replacement or platform modernization
Business Model Change	`businessModelChange`	Significant changes to how the company generates revenue

Response Fields

Core Fields

Field	Type	Example	Description
`signal_id`	string	`"410883b8f3e8e3c2"`	Unique signal identifier
`signal_type`	string	`"form-20f"`	Signal type
`signal_subtype`	string	`"aiInvestment"`	Specific subtype
`signal_name`	string	`"SAP establishing Business AI..."`	Brief headline
`detected_at`	string	`"2025-12-30T05:05:39Z"`	When signal was detected

Company Object

Field	Type	Example	Description
`company.name`	string	`"SAP SE"`	Company name
`company.domain`	string	`"www.sap.com"`	Company website domain
`company.linkedin_url`	string	`null`	LinkedIn URL (if available)
`company.industries`	string[]	`["Software"]`	Industry categories
`company.country`	string	`"DE"`	Country code
`company.ticker`	string	`"SAP"`	Stock ticker symbol

Data Object

Field	Type	Example	Description
`data.filing_date`	string	`"2025-02-27"`	SEC filing date
`data.detail`	string	`"CEO Christian Klein..."`	Detailed explanation
`data.evidence`	string[]	`["..."]`	Direct quotes from filing
`data.relevance`	float	`0.95`	Relevance score (0.0-1.0)
`data.confidence`	string	`"high"`	AI confidence level
`data.sentiment`	string	`"positive"`	Sentiment analysis
`data.signal_category`	string	`"technology"`	Category grouping
`data.sales_relevance`	string	`"AI budget allocation..."`	Why this matters for sales
`data.competitors_mentioned`	string[]	`["Oracle", "Workday"]`	Named competitors
`data.vendors_mentioned`	string[]	`["Microsoft", "AWS"]`	Named vendors/partners
`data.technologies_mentioned`	string[]	`["Business AI", "Cloud ERP"]`	Technologies referenced
`data.regions_mentioned`	string[]	`["EMEA", "APAC"]`	Geographic regions
`data.source_url`	string	`"https://www.sec.gov/..."`	Link to original filing

Full JSON Response Example

{
  "signal_id": "410883b8f3e8e3c2",
  "signal_type": "form-20f",
  "signal_subtype": "aiInvestment",
  "signal_name": "SAP establishing Business AI as core Executive Board function driving strategic transformation",
  "detected_at": "2025-12-30T05:05:39.102895Z",
  "company": {
    "name": "SAP SE",
    "domain": "www.sap.com",
    "linkedin_url": null,
    "industries": ["Software"],
    "country": "DE",
    "ticker": "SAP"
  },
  "data": {
    "filing_date": "2025-02-27",
    "detail": "CEO Christian Klein now directly oversees Business AI as a strategic priority alongside Strategy & Operations, indicating enterprise-wide AI deployment initiatives. This represents a fundamental shift in SAP's product and platform strategy.",
    "evidence": [
      "Christian Klein Chief Executive Officer Strategy & Operations, Corporate Development, Sustainability, Business AI, Compliance, Corporate Communications, Customer Success, Technology & Innovation"
    ],
    "relevance": 0.95,
    "confidence": "high",
    "sentiment": "positive",
    "signal_category": "technology",
    "sales_relevance": "AI budget allocation - target for AI/data vendors",
    "competitors_mentioned": null,
    "vendors_mentioned": null,
    "technologies_mentioned": ["Business AI", "AI", "Machine Learning"],
    "regions_mentioned": null,
    "source_url": "https://www.sec.gov/Archives/edgar/data/1000184/000110465925017815/sap-20241224x20f.htm"
  }
}

Sample Data

Download sample Form 20-F signals:

Format	Link
CSV	Download CSV
JSON	Download JSON

API Usage

Generate Content API

{
  "enabledInsights": ["aiInvestment", "strategicInitiative", "digitalTransformation"],
  "disabledInsights": []
}

Example Output

"Came across your latest 20-F filing where SAP's focus on Business AI and migrating the ERP core to the cloud was highlighted as a top strategic priority. Given the complexity of those migrations, I thought you might be interested in how other Global 2000 leaders are handling the data governance side of 'RISE with SAP' using [your solution]."

Coverage

Refresh: Annual (aligned with SEC filing schedules)
Coverage: ~1,000+ non-US companies listed in the US
Best for: International enterprise accounts, global supply chain targeting