Every public company files an annual 10-K with the SEC. Inside is a section called Risk Factors, where the company describes what could go wrong. This site tracks how that section changes from one year to the next.
Legally required disclosures where companies describe risks to their business — from competition and regulation to supply chains and geopolitics.
New risks signal emerging concerns. Removed ones suggest resolved issues. Rewrites often reflect shifting priorities or legal pressure.
Filings are fetched from SEC EDGAR and parsed automatically. Risk factors are matched across years by text similarity. No data is invented by AI.