LOWOutside partyCustomer
22%
Walmart
“10-K Item 1A: 'In fiscal 2025, Walmart accounted for 22 percent of our consolidated net sales and 31 percent of net sales of our North America Retail segment.'”
GIS · Concentration risk · 10-K extracted
General Mills (GIS) concentration risks
Updated
The most significant concentration General Mills discloses is Walmart at 22%, classified LOW 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: General Mills’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM0
LOW1
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 2026-07-06General Mills discloses a single material customer concentration: Walmart accounted for 22 percent of consolidated net sales in fiscal 2025, a low-share dependency notwithstanding Walmart's status as the company's largest customer. This is a straightforward counterparty exposure rather than a structural feature of the business — General Mills sells a broad portfolio of packaged food brands across many retail channels, and Walmart's share, while its largest single relationship, is disclosed at a level that does not constitute an outsized dependency. For a company of General Mills' scale and brand diversification, this level of customer concentration is unremarkable and consistent with how large packaged-food manufacturers typically sell through the biggest retailers. There is no supplier, geographic, or product concentration disclosed here to weigh against it, which suggests the filing's concentration discussion is narrowly scoped to this one customer relationship. Investors should treat this as a background characteristic of doing business with the largest U.S. retailer rather than a distinct risk factor likely to move the investment thesis on its own.
For the engine’s reasoning on GIS’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 |
| CAG | ConAgra Brands, Inc. | 0 | 1 | 0 | 1 |
| GIS● | General Mills, Inc. | 0 | 0 | 1 | 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.