Are the figures InvestIQ shows the ones companies filed? We asked 100 questions — revenue and net income for 25 large US companies, two quarters each — and compared InvestIQ’s figures with the companies’ SEC filings. 95 matched within 0.5%. The 5 that did not are all listed below, with the reason.
1What we measured
InvestIQ’s figures — the ones shown in Stock Analysis, on Copilot cards and through the connector in Claude or ChatGPT — come from our data provider, Financial Modeling Prep. This benchmark checks them against the source: what each company filed with the US Securities and Exchange Commission (SEC).
- 25 large US companies across sectors, excluding banks and insurers, whose “revenue” is read differently: Apple, Microsoft, NVIDIA, Amazon, Alphabet, Meta, Tesla, Broadcom, Oracle, Adobe, Salesforce, AMD, Netflix, Costco, Walmart, Coca-Cola, PepsiCo, Procter & Gamble, Johnson & Johnson, Merck, Exxon Mobil, Chevron, Caterpillar, Nike, McDonald’s.
- 4 questions each: revenue and net income for the latest reported quarter, and for the same quarter a year earlier.
2How the answers were checked
The expected answers were built by code from the SEC’s XBRL data alone, never from our provider: the company’s revenue tag (revenue from contracts with customers, or total revenues) and its net income attributable to the company, as last filed. A fourth fiscal quarter is not filed on its own; its value is the fiscal year minus the first nine months, both as filed.
InvestIQ’s figures were recorded through its connector, the same access customers have, and stored as returned.
| Result | Rule |
|---|---|
| Correct | InvestIQ has the quarter and its figure is within 0.5% of the filing |
| Wrong | the quarter is there but the gap is larger than 0.5% — even when it can be explained |
| Missing | InvestIQ has no figure for that quarter |
The revenue rule was set before scoring and kept. Tested afterwards, the reverse order (total revenues first) gives the same score, 95, with different companies affected — no single filing tag is every company’s top line.
3Results
| Correct | Wrong | Missing | |
|---|---|---|---|
| Revenue | 45 | 5 | 0 |
| Net income | 50 | 0 | 0 |
| Latest quarter | 48 | 2 | 0 |
| Same quarter a year earlier | 47 | 3 | 0 |
| Total | 95 | 5 | 0 |
4The five gaps
| Question | Filed | InvestIQ | Gap | Why |
|---|---|---|---|---|
| Walmart, revenue, quarter ended 31 Jul 2026 | $186.100B | $187.937B | 0.99% | Definition: the tag used is net sales; InvestIQ shows total revenues, membership income included — exactly the total Walmart filed |
| Walmart, revenue, quarter ended 31 Jul 2025 | $175.750B | $177.402B | 0.94% | Same cause; InvestIQ equals the filed total |
| Exxon Mobil, revenue, quarter ended 30 Sep 2026 | $113.164B | $110.503B | 2.35% | Definition: the filed total includes income from equity affiliates and other income; InvestIQ’s revenue leaves them out |
| Exxon Mobil, revenue, quarter ended 30 Sep 2025 | $85.294B | $83.331B | 2.30% | Same cause |
| Merck, revenue, quarter ended 30 Sep 2025 | $17.276B | $17.183B | 0.54% | A real gap in our provider’s figure: Merck filed $17.276B, twice |
The Merck figure comes from our data provider; we are asking them to correct it, and the correction will be logged on the corrections page.
5Limits
- Two figures, two quarters, 25 large US companies: a test of the data, not of everything InvestIQ shows.
- It measures the figures InvestIQ serves, not yet the answers the Copilot writes from them. That second part is in preparation.
- A 0.5% tolerance: closer than most rounding, wide enough to absorb it.
6Data and next series
Download the questions and expected answers — each with its SEC tag, form, filing number and date — and the scored results. The series is repeated every quarter with the same rules; a rule that changes will be announced and dated.
Spotted something wrong in the benchmark itself? Write to contact@getinvestiq.com.