# What are risk factors?

Informational only - not investment advice.

Book: [Reading Financial Data - Step by Step](/guide/)
Chapter: [Company filings and the story behind the numbers](/guide/filings-and-story/)
As of: 2026-03-13

Risk factors are a filing section that names uncertainties the company discloses.

## Concept

Risk-factor sections are descriptive disclosures. They are not a forecast and not a scorecard.

## Worked Example: Use the filing source when you need sections beyond grepcent's excerpt

1. Open WMT on grepcent and find the latest 10-K filing source link.
2. The linked SEC filing is the annual report filed on 2026-03-13.
3. Use that source filing for sections that grepcent does not reproduce on the company page, including risk factors.

## See it live

- [WMT company page](/company/WMT/)

## Sources

- [WMT latest 10-K source](https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm)