S&P Capital IQ Pro sells normalized fundamentals plus a deep M&A and private-company database. FinancialReports sells the primary-source filings backend underneath — every regulatory document across 48 markets, in AI-ready Markdown, with a webhook the moment it's published. Use both.
Capital IQ solves the analyst workstation. FinancialReports solves the filings backend. The overlap is one corner of each product.
Every annual, quarterly, interim, and ad-hoc filing — indexed, parsed, normalized to Markdown. Free for the web, paid for the API and bulk delivery.
Capital IQ Pro is the analyst workstation with the Office plug-in, Compustat fundamentals, M&A deal databases, and private-company profiles. The institutional standard for equity research workflows.
A non-exhaustive grid of what each tool does and how well. Where the lines blur, we say so.
Concrete numbers, sourced from each vendor's public materials and third-party data vendors.
Median time from regulator publication to a queryable record. Capital IQ's fundamentals refresh on an EOD batch cycle .
Measured against 13,400 filings across DE · FR · UK · NL · SE · US, Jan–Apr 2026. Time = regulator publication → API availability. Webhooks fire < 90 s for paid clients.
A few real workflows and where each tool shines. There's no single answer — many firms run both.
FinancialReports ships filings as structured Markdown with extracted KPIs, queryable in bulk via S3 or REST. Capital IQ's strength is the derived fundamentals layer — useful as an overlay, not as a primary source.
The Capital IQ Office plug-in is the analyst's daily driver — 250+ templates, model-refresh-in-one-click. FinancialReports has no equivalent workstation; it sits underneath as the filings ingest layer.
The MCP server + Markdown-native API + webhooks make this trivial. Capital IQ's derived data is contractually bounded and not designed for LLM ingestion at scale.
Capital IQ stays for fundamentals and the Excel workstation. FinancialReports takes over the filings-data layer for software, agents, and research. Here's how to do it in a week.
List the workflows you actually use Cap IQ for — fundamentals, M&A history, ownership, the Excel plug-in. Note where each one feeds today.
Point the filing.published webhook at your indexer. New filings land as Markdown within 60 s. Backfill via the bulk S3 drop.
Keep Capital IQ for the Excel workstation; route raw filings to your RAG, Snowflake, or agent via FinancialReports. The two layers don't conflict — they stack.
No. FinancialReports replaces the filings-ingestion layer underneath. Capital IQ stays for fundamentals, M&A and private-company databases, ownership, and the Excel workstation. Many teams run both.
You can pull filing documents through the Marketplace API, but Markdown / LLM-clean output is a separate Kensho LLM-ready API product (launched Nov 2024) and is licensed independently of Capital IQ Pro. FinancialReports delivers raw filings as Markdown natively from a single API key.
Capital IQ Pro markets "multi-phase intraday" delivery for press releases and key events; bulk Xpressfeed packages run on a scheduled file-drop cadence. FinancialReports ingests within ~60 seconds of regulator publish and fires a webhook within 90 seconds for paid clients.
No — Capital IQ APIs are sales-gated with per-feed pricing typically starting at $25,000–$100,000/yr . FinancialReports offers $69/mo Pro and $499/mo Business with self-serve checkout.
Derived data is contractually bounded by the Capital IQ licensing terms. FinancialReports' data is sold with explicit redistribution rights on the Enterprise tier — built for embedding in customer-facing products.
Get an API key in two minutes, point your indexer at the webhook, and stop building parsers for filings that already exist as clean Markdown.