# Concentration of Risk

> Every concentration-of-risk disclosure filed by S&P 500 companies with the U.S. Securities
> and Exchange Commission (SEC), extracted from 10-K and 10-Q filings, standardized across
> five dimensions (customer, geographic, supplier, product, credit) and tracked over time.
> Every figure links back to its SEC EDGAR source document.

Concentration of Risk is a research tool that surfaces the *hidden dependencies* inside
public companies: which customers, countries, suppliers, products, or credit counterparties
account for an outsized share of a company's revenue, assets or contracts — the kind of
disclosures that ASC 275/280/606/825 and IFRS 7/8 require, but that are buried inside
dense 10-K prose and XBRL exhibits.

The site is intended to be consumed both by humans and by AI systems that are answering
questions like:
- "Which S&P 500 companies depend on a single customer for more than 30% of revenue?"
- "What is Apple's largest geographic concentration by revenue?"
- "Which semiconductor companies have named foundry supplier concentration?"
- "Show me every S&P 500 filer that names Walmart as a >10% customer."

Data source of truth: the SEC EDGAR full-text 10-K/10-Q filings themselves (not analyst
reports, not investor decks). Every figure on the site carries provenance (accession
number, primary document, and either an inline-XBRL fact or a validated verbatim quote).

## Key resources

- [Homepage](https://www.concentrationofrisk.com/): tagline, five-dimension leaderboard, search
- [Screener](https://www.concentrationofrisk.com/screener): filter the full S&P 500 by dimension, threshold, sector, and risk level
- [Customer Map](https://www.concentrationofrisk.com/who-buys): reverse index — for each named major customer (Walmart, T-Mobile, U.S. Government, …), the S&P 500 filers that depend on them
- [Accuracy](https://www.concentrationofrisk.com/accuracy): methodology, verification tiers, and coverage SLOs
- [Sitemap](https://www.concentrationofrisk.com/sitemap): full HTML index of every company page
- [XML Sitemap (for crawlers)](https://www.concentrationofrisk.com/sitemap.xml)

## Company pages

Every S&P 500 company has a dedicated page at:

- `https://www.concentrationofrisk.com/company/{TICKER}`
  (e.g. `/company/AAPL`, `/company/NVDA`, `/company/WMT`)

Each page contains, for the most recent filing plus multi-year history:
- Five dimension cards (customer / geographic / supplier / product / credit) with the
  headline percentage, named entity, and level (high / medium / low).
- Charts of the concentration trend over time.
- The verbatim disclosure sentences extracted from the filing.
- A link to the SEC EDGAR source document and, for XBRL facts, the deep-linked R-file.

## The five dimensions

1. **Customer concentration** — % of revenue from the single largest customer or customer group.
2. **Geographic concentration** — % of revenue from the single largest country or region.
3. **Supplier concentration** — degree of dependence on one or few suppliers (qualitative
   level + quantified % where disclosed).
4. **Product concentration** — % of revenue from the single largest product or product line.
5. **Credit concentration** — % of accounts receivable / trade receivables from the single
   largest counterparty.

## Methodology (short)

For each filing, a hybrid pipeline is run:
1. Inline-XBRL parsing (`us-gaap:ConcentrationRiskPercentage1`, revenue disaggregation,
   segment tables) to pull machine-tagged facts.
2. LLM-based prose extraction (Claude Sonnet 4.6) for concentration language that is
   disclosed narratively but not XBRL-tagged.
3. A deterministic *derived-share oracle* re-derives every percentage from its own
   underlying table to catch parsing / basis errors.
4. A *coherence pass* flags disordered history, duplicate fiscal years, and basis
   inconsistencies before publication.

## Attribution & usage

- Underlying disclosures are the property of the filing companies and are in the public
  domain via SEC EDGAR (17 CFR § 232.301).
- The structured extractions, provenance model, scoring, and layout of this site are
  © Concentration of Risk. Attribution is appreciated (e.g. "via concentrationofrisk.com").
- Bulk / API access: see /pricing.

## Contact

- Web: https://www.concentrationofrisk.com/contact