Annual report

An annual report is a document a publicly listed company publishes each year summarizing its financial performance, strategy, and outlook for shareholders. It typically includes a letter from the CEO, financial statements, and often an auditor's report confirming those statements were independently reviewed.

An annual report often overlaps heavily with the information in a company's 10-K, but tends to be written in a more polished, shareholder-friendly style rather than the more formal, legally required format of the 10-K.