Private Companies
A private company is a firm held under private ownership. Private companies may issue stock and have shareholders, but their shares do not trade on public exchanges and are not issued through an initial public offering (IPO).
Note: Unlike public companies, private companies do not have to file with the Securities and Exchange Commission (SEC), so there is not the same amount of financial information, if any at all, to analyze.
However, two exceptions can sometimes be helpful. First, if the company you are researching merged with a public company, so the public company may provide investors information about the deal via SEC Filings. Second, if the company was once public but goes private, previous SEC Filings may still be available.