Stocks·From SEC filings

Red flags

The checks I learned as an auditor, run on every stock I cover: auditor changes, restatements, late filings, going-concern doubts, weak internal controls, three classic warning scores, customer concentration, and how far a company's "adjusted" profit strays from the official one.

A flag is a question, not an answer. Plenty of great companies trip one of these (fast growers often set off the manipulation score), and plenty of bad ones pass. Click a stock to see why it was flagged and read the source.

Stock	Red flags	Worth a look	What came up
SMCI Super Micro Computer	1	5	Worth a look Auditor change Worth a look Late filings Red flag Internal controls Worth a look Earnings manipulation score Worth a look Financial strength score Worth a look Customer concentration
RZLV Rezolve AI	1	3	Red flag Internal controls Worth a look Earnings manipulation score Worth a look Bankruptcy risk score Worth a look Financial strength score
SOUN SoundHound AI	1	3	Worth a look Late filings Red flag Internal controls Worth a look Earnings manipulation score Worth a look Bankruptcy risk score
BBAI BigBear.ai	1	2	Red flag Restatement Worth a look Late filings Worth a look Bankruptcy risk score
AAOI Applied Optoelectronics	0	4	Worth a look Auditor change Worth a look Earnings manipulation score Worth a look Customer concentration Worth a look Adjusted vs. official profit
MDGL Madrigal Pharmaceuticals	0	3	Worth a look Bankruptcy risk score Worth a look Financial strength score Worth a look Customer concentration
IONQ IonQ	0	2	Worth a look Earnings manipulation score Worth a look Customer concentration
SNOW Snowflake	0	2	Worth a look Bankruptcy risk score Worth a look Adjusted vs. official profit
UBER Uber	0	2	Worth a look Bankruptcy risk score Worth a look Adjusted vs. official profit
COIN Coinbase	0	1	Worth a look Customer concentration
CRNC Cerence	0	1	Worth a look Bankruptcy risk score
FRMI Fermi	0	1	Worth a look Going-concern doubt
FTNT Fortinet	0	1	Worth a look Customer concentration
GME GameStop	0	1	Worth a look Auditor change
INOD Innodata	0	1	Worth a look Customer concentration
LTRX Lantronix	0	1	Worth a look Adjusted vs. official profit
NOW ServiceNow	0	1	Worth a look Adjusted vs. official profit
NVDA NVIDIA	0	1	Worth a look Earnings manipulation score
SNDK Sandisk	0	1	Worth a look Earnings manipulation score
SPCX SpaceX	0	1	Worth a look Customer concentration
TSLA Tesla	0	1	Worth a look Adjusted vs. official profit
TTD The Trade Desk	0	1	Worth a look Adjusted vs. official profit
TTWO Take-Two Interactive	0	1	Worth a look Bankruptcy risk score
AMD AMD	0	0	All clear
AMZN Amazon	0	0	All clear
APP AppLovin	0	0	All clear
AUR Aurora Innovation	0	0	All clear
BABA Alibaba	0	0	All clear
GOOGL Alphabet (Google)	0	0	All clear
INTC Intel	0	0	All clear
MELI MercadoLibre	0	0	All clear
MSFT Microsoft	0	0	All clear
PLTR Palantir	0	0	All clear
PONY Pony AI	0	0	All clear
SBUX Starbucks	0	0	All clear
SOFI SoFi Technologies	0	0	All clear

What each check means

Auditor change: The company switched audit firms in the last 3 years. Often routine (fees, a merger), but an auditor quitting can be a warning. The 8-K has to say whether they disagreed.
Restatement: The company said past financial statements can't be relied on (8-K item 4.02).
Late filings: A notice that a 10-K or 10-Q would be late (form NT 10-K or NT 10-Q).
Going-concern doubt: The auditor or management says there's "substantial doubt" the company can keep operating for another year.
Internal controls: A "material weakness" means the company's own checks could miss a big error.
Earnings manipulation score: The Beneish M-score: 8 ratios that, together, looked like companies later caught cooking the books. Above -1.78 is flagged.
Bankruptcy risk score: The Altman Z-score (the version that uses book value). Below 1.1 is the "distress zone".
Financial strength score: The Piotroski F-score: 9 yes-or-no tests of whether the business got stronger this year. 3 or fewer is flagged.
Customer concentration: One customer is a quarter or more of revenue.
Adjusted vs. official profit: The company's own "adjusted" profit turns an official loss into a profit, or is more than double it.

Built Nov 9, 2026 from SEC EDGAR filings, refreshed every weekday. Read by scripts, so mistakes are possible; each stock page links the source filings. Education, not investment advice.