--- ticker: PG company: Procter & Gamble Company filing_type: 10-K year_current: 2026 year_prior: 2025 risks_added: 0 risks_removed: 1 risks_modified: 1 risks_unchanged: 15 source: SEC EDGAR url: https://riskdiff.com/pg/2026-vs-2025/ markdown_url: https://riskdiff.com/pg/2026-vs-2025/index.md access: public_preview generated: 2026-09-28 --- # Procter & Gamble Company: 10-K Risk Factor Changes 2026 vs 2025 > Source: U.S. Securities and Exchange Commission (EDGAR) > Generated: 2026-09-28 > All data extracted directly from official filings. No hallucinated content. ## AI Risk Brief > **AI interpretation layer.** The brief below was generated by an AI model from the deterministic diff. AI never invents facts. > **Removing the explicit disease-outbreak risk narrows stated operational exposure, while the competitive-risk section was substantively revised.** - **Direction:** Less concerning - **Themes:** Public health outbreaks, Competitive positioning --- ## Summary | Status | Count | |--------|-------| | New risks added | 0 | | Risks removed | 1 | | Risks modified | 1 | | Unchanged | 15 | --- ## Selected change This public preview includes one change. Pro access provides the complete comparison and historical data. ## No Match in Current: We must successfully manage the demand, supply and operational challenges associated with the effects of any future disease outbreak, including epidemics, pandemics or similar widespread public health concerns. *This section from the 2025 filing does not have a high-confidence textual match in 2026. It may have been removed, merged, or substantially reworded.* Our business may be negatively impacted by the fear of exposure to or actual effects of a disease outbreak, epidemic, pandemic or similar widespread public health concern. These impacts may include, but are not limited to: •Significant reductions in demand or significant volatility in demand for one or more of our products, which may be caused by, among other things: the temporary inability of consumers to purchase our products due to illness, quarantine or other travel restrictions or financial hardship, shifts in demand away from one or more of our more discretionary or higher priced products to lower priced products or stockpiling or similar pantry-loading activity. If prolonged, such impacts can further increase the difficulty of business or operations planning and may adversely impact our results of operations and cash flows; or •Significant changes in the political conditions in markets in which we manufacture, sell or distribute our products, including quarantines, import/export restrictions, tariffs, price controls, or governmental or regulatory actions, closures or other restrictions that limit or close our operating and manufacturing facilities, restrict our employees' ability to travel or perform necessary business functions or otherwise prevent our third-party partners, suppliers or customers from sufficiently staffing operations. Despite efforts to manage and remedy these impacts, their ultimate impact also depends on factors beyond our knowledge or control, including the duration and severity of any such outbreak as well as third-party actions taken to contain its spread and mitigate its public health effects. --- ## Source filings - [2026 10-K filing on SEC EDGAR](https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/0000080424-26-000103-index.htm) - [2025 10-K filing on SEC EDGAR](https://www.sec.gov/Archives/edgar/data/80424/000008042425000076/0000080424-25-000076-index.htm) [View the full comparison with Pro](https://riskdiff.com/pg/2026-vs-2025/full/) *Data sourced from SEC EDGAR. Last updated 2026-09-28.*