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 2026-09-06ConAgra 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, up slightly from 28% in both fiscal 2024 and fiscal 2023. This is a medium-share dependency on a single retail partner rather than a structural, market-wide exposure — the risk is idiosyncratic to the health of one commercial relationship rather than tied to a broad economic or geographic trend. The figure has been essentially stable over the three most recent fiscal years, suggesting the relationship is neither rapidly deepening nor eroding. With no other concentration disclosed in the filing — no supplier, geographic, or product-line exposure named — this single customer relationship is effectively the whole of ConAgra's disclosed concentration picture. Because it sits at a medium-share level rather than a high one, it is a meaningful factor for an educated investor to track but not, on the evidence disclosed here, the kind of singularly dominant dependency that alone would be expected to move the verdict.
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.