{
  "ticker": "SJM",
  "company": "J.M. Smucker Company",
  "filing_type": "10-K",
  "year_current": "2026",
  "year_prior": "2025",
  "summary": {
    "added": 1,
    "removed": 0,
    "modified": 10,
    "unchanged": 23,
    "total_current": 34,
    "total_prior": 33
  },
  "source": "SEC EDGAR",
  "url": "https://riskdiff.com/sjm/2026-vs-2025/",
  "markdown_url": "https://riskdiff.com/sjm/2026-vs-2025/index.md",
  "json_url": "https://riskdiff.com/sjm/2026-vs-2025/index.json",
  "access": "public_preview",
  "source_filings": [
    {
      "label": "2026 10-K filing on SEC EDGAR",
      "url": "https://www.sec.gov/Archives/edgar/data/91419/000009141926000050/0000091419-26-000050-index.htm"
    },
    {
      "label": "2025 10-K filing on SEC EDGAR",
      "url": "https://www.sec.gov/Archives/edgar/data/91419/000009141925000056/0000091419-25-000056-index.htm"
    }
  ],
  "generated": "2026-09-28",
  "ai_summary": "New stakeholder-perception risk and revisions to geopolitical, regulatory, acquisition, and supply disclosures broaden potential pressure on performance and stock price.",
  "ai_brief": {
    "executive_summary": "New stakeholder-perception risk and revisions to geopolitical, regulatory, acquisition, and supply disclosures broaden potential pressure on performance and stock price.",
    "direction": "more_concerning",
    "top_themes": [
      "China & Geopolitical Exposure",
      "Regulatory & Legal",
      "Supply Chain"
    ]
  },
  "risks": [
    {
      "status": "MODIFIED",
      "current_title": "Ongoing geopolitical conflicts and the related disruptions to the global economy could adversely affect our business, financial condition, or results of operations.",
      "prior_title": "Ongoing geopolitical conflicts and the related disruptions to the global economy could adversely affect our business, financial condition, or results of operations.",
      "severity": {
        "deterministic": 7,
        "ai_bump": 0,
        "total": 7,
        "tier": "medium",
        "signal_hits": [
          "tariffs",
          "china",
          "cyber",
          "supplychain"
        ]
      },
      "similarity_score": 0.566,
      "confidence": "low",
      "key_changes": [
        "Reworded sentence: \"Geopolitical conflicts and evolving international trade and regulatory conditions have adversely affected, and may continue to adversely affect, the global economy and financial markets.\""
      ],
      "current_body": "Geopolitical conflicts and evolving international trade and regulatory conditions have adversely affected, and may continue to adversely affect, the global economy and financial markets. Governments in various jurisdictions have implemented, and may continue to implement, sanctions, trade restrictions, export controls, or other regulatory measures that can disrupt global supply chains and increase costs. While we do not have operations in regions experiencing geopolitical conflict, these conditions have contributed to, and may continue to contribute to, the volatility in the availability and cost of raw materials, transportation, and energy. Prolonged or escalating geopolitical conflicts could also result in cyber incidents, further supply chain disruptions, reduced consumer confidence and demand, foreign currency exchange rate volatility, and additional barriers to international trade. Any of these factors could adversely affect our business, financial condition, results of operations, or cash flows, and may exacerbate other risks described in this section.",
      "prior_body": "The global economy has been negatively impacted by the ongoing conflicts between Russia and Ukraine and Israel and Hamas, as well as rising tensions between China and Taiwan. Governments in the United States, United Kingdom, and European Union have imposed sanctions on certain products, industry sectors, and parties in Russia. Although we do not have any operations in Russia, Ukraine, Israel, Palestine, China, or Taiwan, we have experienced and may continue to experience shortages in materials and increased costs for transportation, energy, and raw materials due in part to the negative impact of the conflicts on the global economy. If the conflicts continue for an extended period of time, they could result in cyberattacks, supply chain disruptions, lower consumer demand, changes in foreign currency exchange rates, increased trade barriers and restrictions on global trade, and other impacts, which may adversely affect our business, financial condition, or results of operations. These and other impacts of the ongoing conflicts between Russia and Ukraine, Israel and Hamas, and rising tensions between China and Taiwan could also heighten many of the other risk factors discussed in this section."
    }
  ],
  "full_url": "https://riskdiff.com/sjm/2026-vs-2025/full/"
}