Where to Find Financial Data

Sourcing Financial Data on NSE Companies

Now that you understand the three core financial statements, you need to know where to find them. Fortunately, listed companies are required by the CMA to publish their financials regularly.

Primary Sources

• Company annual reports — Every listed company publishes an annual report that includes audited financial statements, the chairman's statement, and management discussion. These are typically available on the company's investor relations page.
• NSE website — The Nairobi Securities Exchange publishes company announcements, including interim and full-year financial results.
• Newspaper publications — Companies are required to publish summarised results in national newspapers such as the Daily Nation and The Standard.

Using Stockr for Quick Analysis

Stockr simplifies fundamental analysis by pulling key metrics directly from company filings and presenting them in an easy-to-read format:

• Key ratios — P/E, P/B, EPS, dividend yield, and ROE are calculated and displayed on each stock page.
• Historical data — Track how ratios and financials have changed over multiple years.
• Comparison tools — Compare metrics across companies within the same sector.

Tips for Effective Research

1. Always read the auditor's opinion — An unqualified (clean) audit opinion means the auditor found no major issues. A qualified opinion is a red flag.
2. Look at footnotes — Important details about accounting policies, contingent liabilities, and related-party transactions are often buried in the notes.
3. Compare year over year — One year of data tells you very little. Look at 3 to 5 years of trends to understand the trajectory.

The best investors do not just look at the numbers on the surface. They dig into the details and ask questions about what is driving the trends.