MEDIUMOutside partyCustomer
29%
Walmart
“10-K Item 1: 'Our largest customer, Walmart, Inc. and its affiliates, accounted for approximately 29% of consolidated net sales for fiscal 2025 and 28% for fiscal 2024 and 2023.'”
CAG · Concentration risk · 10-K extracted
ConAgra Brands (CAG) concentration risks
Updated
The most significant concentration ConAgra Brands discloses is Walmart at 29%, classified MEDIUM 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: ConAgra Brands’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM1
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).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-02ConAgra Brands' primary disclosed concentration is customer-based: Walmart, Inc. and its affiliates, the company's largest customer, accounted for approximately 29% of consolidated net sales in fiscal 2025, versus 28% in each of fiscal 2024 and 2023. This is a medium-share dependency exposure — material enough that Walmart's purchasing decisions, shelf-space allocation, or pricing negotiations could meaningfully affect reported sales, but the relationship has also been stable, moving only slightly across the three most recent fiscal years rather than trending sharply in either direction. With only one concentration disclosed in the filing, the investment case rests less on a diversified basket of exposures and more on the durability of this single retail relationship; a shift in Walmart's category strategy or competitive positioning would be the most direct channel through which concentration risk could move ConAgra's outlook, while the multi-year stability of the percentage suggests the relationship is not currently deteriorating.
For the engine’s reasoning on CAG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Packaged Foods
Peer concentration profile
| 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.