From my limited AR reading, I can say that it has everything in it, quantitative, qualitative, visceral, intellectual. It is exhausting but answer a lot of questions, if not all questions we can think about the company.
And Screener or any other such website which provides numbers is about the stock, and AR is about a company. So if we want to take a big position, we need to know about a lot of things about the company, the people who run it, their vision, their plans, so we need AR, con calls etc.
On the other hand, if we just want to have a cursory look at a stock or check the metrics that we think are important for us to move forward, numbers are sufficient. Even I do this, a few minutes of looking the numbers make me stop.
So it all depends on the kind of investment we do, core PF, mid term holding, position building, tracking, trading etc. Different seasons, different clothing.
And Screener’s data is reliable, although at times there are some discrepancies which are pointed out. Here is some proof.