Unit Reference (unitRef)
In XBRL-formatted SEC filings, numbers are not meaningful on their own. A unit reference tells systems whether a value is expressed in dollars, shares, percentages, or another unit.
Each numeric fact in XBRL points to a defined unit through its unitRef. This ensures that software knows how to interpret and compare the value correctly.
Without unit references, automated analysis would break down. A revenue figure and a share count could look similar, even though they represent very different things.
Why It Matters
Unit references ensure financial data is interpreted correctly. They prevent unit confusion and support accurate comparison and aggregation.
How does unitRef work within XBRL filings?
In XBRL, units are defined separately and assigned an identifier. Each numeric data point then references that identifier using unitRef. This allows many values to share the same unit definition. It keeps filings consistent and machine-readable.
Why is unitRef critical for automated financial analysis?
Automated systems rely on unitRef to distinguish between currencies, counts, and ratios. Without it, combining or comparing values would produce incorrect results. Unit references also support validation checks. They help ensure data integrity at scale.
What problems can occur if unit references are missing or incorrect?
Incorrect unit references can lead to serious analytical errors. A value might be interpreted as dollars when it represents shares. This can distort models, ratios, and comparisons. Data quality systems often flag unitRef issues as critical errors.
Real-World Example
An analyst extracts revenue data from XBRL filings. The unitRef confirms that the figures are reported in U.S. dollars, allowing accurate comparison across companies.
Unit Reference (unitRef) and FinFeedAPI
FinFeedAPI’s SEC API exposes XBRL data with associated unit references. This allows users to interpret financial values correctly without manual unit mapping. Accurate unit data supports reliable automation and analysis.