Datasets:

nogabenyoash
/

SecQue

QID string	Question string	ground_truth_answer string	question_type string	page_number string	accession_number string	item string	context_markdown_with_headers string	context_markdown_without_headers string	context_html_with_headers string	context_html_without_headers string
q_an001	What does Discover’s Provision Coverage Ratio for 2023 indicate about its approach to managing bad debts?	The PCR for Discover for 2023 of approximately 401.21% indicates that Discover has set aside provisions that are more than four times the amount of its NPAs. A higher PCR suggests strong risk management as it shows that the company is well-prepared to cover potential losses from its bad loans. This level of coverage p...	Analysis	65, 67	0001393612-24-000010	Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations	Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 65: The following tables provide changes in our allowance for credit losses (dollars in millions): \| \| \| \| \| \| \| ...	The following tables provide changes in our allowance for credit losses (dollars in millions): \| \| \| \| \| \| \| \| \| \| \| \| \| \| \| \| \|---...	Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 65: The following tables provide changes in our allowance for credit losses (dollars in millions): <table><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td...	The following tables provide changes in our allowance for credit losses (dollars in millions): <table><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></t...
q_an002	How does DFS Debt-to-Equity Ratio for 2023 reflect on the company's financial stability?	Increase in Leverage: The ratio increased from 8.2 in 2022 to 9.2 in 2023, indicating higher reliance on debt relative to equity. Financial Risk: The higher ratio suggests greater financial risk due to increased debt obligations. Impact on Stability: Greater leverage could affect financial stability, especially in adve...	Analysis	85	0001393612-24-000010	Item 8. Financial Statements and Supplementary Data	Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)\| \| ...	DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)\| \| ...	Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)<table><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td...	DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)<table><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="3"></td><td colspan="9">December 31,</td></tr><tr><td...
q_an003	What does the change in Discover’s ROE for 2023 compared to 2022 reflect about the company?	ROE Calculation: 2023: ROE (2023)=$2,940 million/$14,586 million = 19.6% 2022: ROE (2022)=$4,374 million/$14,344 million = 29.9% The decline from 29.9% in 2022 to 19.6% in 2023 reflects a reduction in profitability relative to shareholders' equity. This drop could be attributed to decreased net income despite a relati...	Analysis	85, 86	0001393612-24-000010	Item 8. Financial Statements and Supplementary Data	Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)\| \| ...	DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)\| \| ...	Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)<table><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td...	DISCOVER FINANCIAL SERVICES Consolidated Statements of Financial Condition (dollars in millions, except for share amounts)<table><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="3"></td><td colspan="9">December 31,</td></tr><tr><td...
q_an004	"How did the earnings per share (EPS) attributable to NEE, assuming dilution, change from 2021 to 20(...TRUNCATED)	"The earnings per share (EPS) attributable to NEE, assuming dilution, changed as follows from 2021 t(...TRUNCATED)	Analysis	60	0000753308-24-000008	Item 8. Financial Statements and Supplementary Data	"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: \nTable of Contents\n\n(...TRUNCATED)	"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions(...TRUNCATED)	"NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: \nTable of Contents\n\n(...TRUNCATED)	"\nTable of Contents\n\n\n\nNEXTERA ENERGY, INC.\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n(millions(...TRUNCATED)
q_an005	What are the liquidity metrics for Apple Inc. for the year 2023, and what do they indicate?	"The liquidity metrics for Apple Inc. for the year 2023 are as follows:\n- Current Assets: $143,566 (...TRUNCATED)	Analysis	28, 30	0000320193-23-000106	Item 8. Financial Statements and Supplementary Data	"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED (...TRUNCATED)	"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, w(...TRUNCATED)	"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED (...TRUNCATED)	"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, w(...TRUNCATED)
q_an006	What does the Fixed Asset Turnover Ratio for Apple Inc. for the year 2023 indicate?	" The Fixed Asset Turnover Ratio of Apple for 2023 is 8.93. This ratio indicates that Apple Inc. is (...TRUNCATED)	Analysis	28, 30	0000320193-23-000106	Item 8. Financial Statements and Supplementary Data	"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED (...TRUNCATED)	"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, w(...TRUNCATED)	"Apple Inc. 10-K form for the fiscal year ended 2023-09-30, page 28: \nApple Inc.\n\n\nCONSOLIDATED (...TRUNCATED)	"\nApple Inc.\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n(In millions, except number of shares, w(...TRUNCATED)
q_an007	"What does the change in dividend payout ratio between 2022 and 2023 indicate about Discover's divid(...TRUNCATED)	"The increase in dividend payout ratio from 14.9% in FY 2022 to 23.9% in FY 2023 indicates that Disc(...TRUNCATED)	Analysis	77;86	0001393612-24-000010;0001393612-24-000010	"Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations;(...TRUNCATED)	"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 77: Our Board of D(...TRUNCATED)	"Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:\n\|(...TRUNCATED)	"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 77: Our Board of D(...TRUNCATED)	"Our Board of Directors declared the following common stock dividends during 2023, 2022 and 2021:<ta(...TRUNCATED)
q_an008	"How Discover’s Return on Assets for 2023 reflect the company’s efficiency in utilizing its asse(...TRUNCATED)	"\nDiscover’s ROA for 2023 was approximately 2.08%, which indicates how efficiently the company us(...TRUNCATED)	Analysis	85, 86	0001393612-24-000010	Item 8. Financial Statements and Supplementary Data	"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FIN(...TRUNCATED)	"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in mi(...TRUNCATED)	"Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 85: \nDISCOVER FIN(...TRUNCATED)	"\nDISCOVER FINANCIAL SERVICES\n\n\nConsolidated Statements of Financial Condition\n\n(dollars in mi(...TRUNCATED)
q_an009	"How does NVIDIA's improvement in its Quick Ratio from 2023 to 2024 reflect the company's enhanced l(...TRUNCATED)	"There are 2 ways to calculate Quick ratio:\n\nMethod 1: Calculating quick assets as Current assets (...TRUNCATED)	Analysis	52	0001045810-24-000029	Item 15. Exhibit and Financial Statement Schedules	"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsi(...TRUNCATED)	"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par (...TRUNCATED)	"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsi(...TRUNCATED)	"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par (...TRUNCATED)
q_an010	"How does the increase in NVIDIA's Cash Ratio from 2023 to 2024 highlight improvements in its abilit(...TRUNCATED)	"Cash Ratio is calculated using the formula: Cash Ratio = Cash & Cash Equivalents / Current Liabilit(...TRUNCATED)	Analysis	52	0001045810-24-000029	Item 15. Exhibit and Financial Statement Schedules	"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsi(...TRUNCATED)	"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par (...TRUNCATED)	"NVIDIA CORP 10-K form for the fiscal year ended 2024-01-28, page 52: \nNVIDIA Corporation and Subsi(...TRUNCATED)	"\nNVIDIA Corporation and Subsidiaries\n\n\nConsolidated Balance Sheets\n\n(In millions, except par (...TRUNCATED)

End of preview. Expand in Data Studio

SECQUE

Paper

SECQUE is a comprehensive benchmark for evaluating large language models (LLMs) in financial analysis tasks.

SECQUE comprises 565 expert-written questions covering SEC filings analysis across four key categories:

comparison analysis
ratio calculation
risk assessment
financial insight generation.

To assess model performance, we develop SECQUE-Judge, an evaluation mechanism leveraging multiple LLM-based judges, which demonstrates strong alignment with human evaluations. Additionally, we provide an extensive analysis of various models’ performance on our benchmark.

Results

Model	Baseline	Financial	Baseline CoT	Financial CoT	Flipped	Avg Tokens by Model
GPT-4o	*0.69*/0.79	0.62/0.71	0.67/0.76	0.63/0.73	0.68/0.78	319.84
GPT-4o-mini	0.64/0.73	0.38/0.47	0.60/0.72	0.56/0.65	0.62/0.73	289.76
Llama-3.3-70B-Instruct	0.65/0.75	0.60/0.71	0.63/0.74	0.60/0.72	0.62/0.74	341.63
Qwen2.5-32B-Instruct	0.61/0.72	0.49/0.58	0.60/0.71	0.55/0.67	0.65/0.75	331.34
Phi-4	0.56/0.66	0.55/0.64	0.57/0.67	0.56/0.66	0.57/0.67	294.33
Meta-Llama-3.1-8B-Instruct	0.48/0.60	0.41/0.54	0.44/0.56	0.40/0.53	0.47/0.59	338.38
Mistral-Nemo-Instruct-2407	0.46/0.55	0.32/0.42	0.45/0.56	0.44/0.55	0.44/0.54	231.52
Avg Tokens by Prompt	283.04	151.97	437.38	334.71	317.57	304.93

Citation

@inproceedings{
    title = "SECQUE: A Benchmark for Evaluating Real-World Financial Analysis Capabilitiese",
    author = "Ben Yoash, Noga  and
      Brief, Meni and
      Ovadia, Oded  and
      Shenderovitz, Gil  and
      Mishaeli, Moshik  and
      Lemberg, Rachel  and
      Sheetrit, Eitam",
    month = apr,
    year = "2025",
    url = "https://arxiv.org/pdf/2504.04596",
}

Evaluation Benchmark notice

This benchmark is indented solely for evaluation, and must not be used for training in any way.

Downloads last month: 231

Paper for nogabenyoash/SecQue

SECQUE: A Benchmark for Evaluating Real-World Financial Analysis Capabilities

Paper • 2504.04596 • Published Apr 6, 2025