Public companies
A public company has shares of stock that are traded openly on one or multiple stock exchanges, such as the NASDQ or NYSE. In the United States, public companies must file various forms and documents that detail financial performance and governance structure with the U.S. Securities and Exchange Commission (SEC). The filings are made publicly available, making research into public companies relatively easy.
Private companies
Private companies on the other hand are not traded on any stock exchange and are not typically required to file with the SEC. Finding information regarding a private company (including financials and governance structure) can be challenging or even impossible.
What is an Investor Relations page and what can I learn from it?
Since public companies trade their shares freely on a stock exchange, they have a vested interest in their shareholders. Therefore, the majority of public companies have a dedicated page on their website for those who might be interested in a company's stock or financial stability. These usually contain company earnings calls (see below for more information), annual reports, company news, SEC filings, and other investor-facing content.
What are earnings calls, what can you learn from them, and where can you find them?
Earnings calls are a quarterly conversation between company's top management team and Wall Street analysts. They take place just before the release of a company's quarterly and annual earnings. Discussion includes earnings announcement, significant events, etc. These calls can be excellent source of insights about the company, its competitors, the competitive landscape, risks, current and future strategy and challenges, leadership, and more. You can typically find recordings of earnings calls or read their transcripts on the Investor Relations page of a public company's website.
Why create a company list?
You might already have a good idea of the top five companies in your industry, but it can be useful to expand that list to firms you might not have top of mind. Using these databases, you will be able to create a custom list using filters such as target location, industry, revenue, and much more.
What can you learn from a company profile?
When you're preparing for an interview or researching a company for a class project, taking a look at company profiles can often give you a broader understanding of a company's history, operations, competitive landscape and strategic priorities. Remember, it is far easier to locate information on public companies (see Private versus Public Companies box), so even when you do locate a profile on a private company, its content will likely be limited.
Both Foundation Directory and Guidestar (listed below) are excellent sources for non-profit research.
You can use them in tandem by considering the following: