Updated
The most significant concentration Central Garden & Pet discloses is Walmart, Home Depot, Costco, Lowe's, Amazon at 54%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Central Garden & Pet’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Costco, Lowe's and Amazon are also significant customers, and together with Walmart and Home Depot, accounted for approximately 54% of our net sales in fiscal 2025'”
“10-K Item 1A: 'our Pennington and Kaytee businesses are exposed to fluctuations in market prices for commodity seeds and grains used to produce bird feed and grass seed'”
“10-K Item 1A: 'Walmart, our largest customer in fiscal 2025, represented approximately 17% of total net sales in fiscal 2025'”
“10-K Item 1A: 'Home Depot, our second largest customer in fiscal 2025, represented approximately 16% of total net sales in fiscal 2025'”
The company's concentration profile is dominated by a high-share customer dependency at the aggregate level, with additional individual-name exposures that are smaller but still meaningful. Walmart, Home Depot, Costco, Lowe's, and Amazon together accounted for approximately 54% of net sales in fiscal 2025 — a high-share dependency reflecting the importance of a small number of large-format and e-commerce retailers to the company's revenue base. The character is idiosyncratic rather than structural: it reflects specific shelf-placement and purchasing relationships, not an inherent feature of the end-market, meaning changes in any of these retailers' buying decisions could move results materially. Within that group, Walmart was the largest individual customer, at approximately 17% of total net sales, and Home Depot was the second largest, at approximately 16% — both low shares on a standalone basis by disclosed size, but together accounting for a third of sales from just two names. Layered alongside the customer picture is a commodity input exposure in seeds and grains for the Pennington and Kaytee businesses, a medium-share structural concentration that moves with commodity market prices rather than any specific supplier relationship. On balance, the customer concentration is the most actionable watchpoint: the top-five retailer dependency is the primary variable where a renegotiation or lost account could shift the revenue line, while the commodity exposure is a margin-level risk that moves with broader agricultural markets.
For the engine’s reasoning on CENT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CENT● | Central Garden & Pet Company | 1 | 1 | 2 | 4 |
| CENTA | Central Garden & Pet Company | 1 | 1 | 2 | 4 |
| CPB | The Campbell's Company | 1 | 1 | 1 | 3 |
| DAR | Darling Ingredients Inc. | 1 | 1 | 0 | 2 |
| CAG | ConAgra Brands, Inc. | 0 | 1 | 0 | 1 |
| BRBR | BellRing Brands, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.