HIGHBuilt-inSupplier
internal rod mill (steel rod/wire)
“10-K Item 1: 'Our domestic wire drawing mills purchase nearly all of their steel rod requirements from our rod mill.'”
LEG · Concentration risk · 10-K extracted
Leggett & Platt (LEG) concentration risks
Updated
The most significant concentration Leggett & Platt discloses is internal rod mill (steel rod/wire), 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: Leggett & Platt’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM3
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).
MEDIUMBuilt-inGeographic
41%
products manufactured outside the United States
“10-K Item 1: 'The percentages of our trade sales related to products manufactured outside the United States were 39%, 40%, and 41% in 2023, 2024, and 2025, respectively.'”
MEDIUMOutside partyCustomer
31%
top 10 customers
“10-K Item 1: 'Our largest customer represented approximately 7% of our 2025 consolidated revenue. Our top 10 customers accounted for approximately 31% of these consolidated revenues.'”
MEDIUMOutside partyGeographic
China
“10-K Item 1A: 'We have 12 manufacturing facilities in China as of December 31, 2025 that contribute significantly to our earnings'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Leggett & Platt's concentration risks split fairly evenly between structural and customer-dependency exposures, none of which stands out as a single dominant driver. On the structural side, domestic wire drawing mills purchase nearly all of their steel rod requirements from the company's own internal rod mill — a high-share exposure, though it is an intra-company dependency rather than a third-party supplier risk. Manufacturing is also increasingly non-domestic: products manufactured outside the United States rose to 41% of trade sales, up from 40% and 39% in the two prior years, a medium-share and growing exposure. On the customer side, the top 10 customers account for 31% of consolidated revenue, though the largest single customer is only about 7% — a medium-share exposure well spread across many accounts rather than reliant on one buyer. China adds a further medium-share, dependency-type exposure, given the 12 manufacturing facilities located there that contribute significantly to earnings. None of these exposures alone looks large enough to be a standalone swing factor, but the rising non-U.S. manufacturing share is the trend most worth monitoring.
For the engine’s reasoning on LEG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Furnishings, Fixtures & Appliances
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALH | Alliance Laundry Holdings Inc. | 2 | 0 | 0 | 2 |
| LEG● | Leggett & Platt, Incorporated | 1 | 3 | 0 | 4 |
| LZB | La-Z-Boy Incorporated | 1 | 3 | 0 | 4 |
| MBC | MasterBrand, Inc. | 0 | 2 | 2 | 4 |
| ETD | Ethan Allen Interiors Inc. | 0 | 1 | 1 | 2 |
| HNI | HNI Corporation | 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.