MEDIUMOutside partyCustomer
29%
Walmart, Inc.
“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, Inc. 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 2026-08-09ConAgra Brands' disclosed concentration risk is limited to a single, well-defined customer exposure. Its largest customer, Walmart, Inc. and its affiliates, accounted for approximately 29% of consolidated net sales in fiscal 2025, up from 28% in both fiscal 2024 and fiscal 2023. This is a medium-share, dependency-type exposure: it reflects reliance on one retail partner's shelf space and purchasing decisions rather than a structural feature of the broader business or a geographic or supply-chain risk. The relative stability of the figure — essentially flat at 28% to 29% over three fiscal years — suggests this is a steady, embedded retail relationship rather than a rapidly growing or newly emerging dependency. With no other disclosed customer, geographic, or supplier concentration in the filing, Walmart is the single factor most capable of moving ConAgra's verdict on the concentration dimension, though its medium-share size and multi-year stability argue against treating it as a rapidly emerging threat.
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.