HIGHBuilt-inGeographic
64%
international operations
“10-K Item 1A: 'During 2025, 2024 and 2023, 64%, 62% and 58%, respectively, of our sales were from our international operations.'”
BHE · Concentration risk · 10-K extracted
Benchmark Electronics (BHE) concentration risks
Updated
The most significant concentration Benchmark Electronics discloses is international operations at 64%, 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: Benchmark Electronics’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
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).
HIGHOutside partyCustomer
51%
ten largest customers
“10-K Item 1A: 'Sales to our ten largest customers represented 51%, 50% and 52% of our total sales in 2025, 2024 and 2023, respectively.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile spans two high-share dimensions — geographic and customer — that together define the primary risk axes for this contract electronics manufacturer. International operations generated 64% of sales in 2025, a high share by disclosed size with a structural character reflecting the deliberate globalization of the company's manufacturing and service footprint. This geographic concentration means results are levered to exchange-rate dynamics, regional demand conditions, and operational execution across a predominantly non-U.S. asset base, with exposure spanning multiple international sites rather than being pinpointed to a single country. At the customer level, the ten largest customers represented 51% [C1, C2] — specifically, 51% of total sales in 2025 — a high share by disclosed size with a dependency character. For a contract manufacturer, concentrated customer relationships reflect the business model's inherent structure: large-volume programs with a small number of sophisticated OEM customers drive the majority of production throughput. However, this also means program wins and losses, customer inventory cycles, and OEM end-market health have outsized effects on revenue visibility. Taken together, the two exposures are additive rather than offsetting: a company that derives more than half its sales internationally and more than half through its ten largest customers simultaneously faces macro and counterparty dependencies that move independently of each other. A regional demand slowdown could coincide with a customer program wind-down, compressing results from both angles without the buffer of a diversified domestic or customer base.
For the engine’s reasoning on BHE’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Electronic Components
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CLS | Celestica, Inc. | 2 | 2 | 0 | 4 |
| APH | Amphenol Corporation | 2 | 1 | 1 | 4 |
| BELFB | Bel Fuse Inc. | 2 | 1 | 0 | 3 |
| BHE● | Benchmark Electronics, Inc. | 2 | 0 | 0 | 2 |
| FLEX | Flex Ltd. | 1 | 3 | 1 | 5 |
| BELFA | Bel Fuse Inc. | 0 | 2 | 0 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.