HIGHOutside partyCustomer
62%
top five Retail customers
“10-K Item 1: 'Our top five Retail customers accounted for 62%, 59% and 59% of this segment's total net sales in 2025, 2024 and 2023, respectively.'”
MZTI · Concentration risk · 10-K extracted
The Marzetti (MZTI) concentration risks
Updated
The most significant concentration The Marzetti discloses is top five Retail customers at 62%, 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: The Marzetti’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM1
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).
HIGHOutside partyCustomer
53%
top five Foodservice direct customers
“10-K Item 1: 'Our top five Foodservice direct customers accounted for 53%, 53% and 58% of this segment's total net sales in 2025, 2024 and 2023, respectively.'”
MEDIUMOutside partyCustomer
29%
Chick-fil-A, Inc.
“10-K Item 1: 'Total net sales attributed to Chick-fil-A, including the Retail sales resulting from the exclusive license agreement and the Foodservice sales, totaled 29%, 28% and 26% of consolidated net sales for 2025, 2024 and 2023, respectively.'”
LOWOutside partyCustomer
19%
Walmart Inc.
“10-K Item 1: 'Net sales attributed to Walmart Inc. ("Walmart") totaled 19%, 18% and 18% of consolidated net sales for 2025, 2024 and 2023, respectively.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06Marzetti's revenue base shows meaningful concentration across both of its two selling channels, and the pattern is customer-driven rather than macro or geographic. Retail sales are concentrated at the top: the top five Retail customers accounted for 62% of that segment's net sales, up from 59% in the two preceding years, a high-share dependency. The Foodservice side is similarly concentrated, with the top five Foodservice direct customers representing 53% of that segment's total net sales (53% and 58% in the two years prior), another high-share dependency. Layered on top of these channel-level concentrations is a company-wide reliance on a single retail partner: Chick-fil-A, Inc. accounted for 29% of consolidated net sales, a medium-share exposure tied to an exclusive license arrangement, while Walmart Inc. represented 19% of consolidated net sales, a low-share exposure. All four are dependency risks on named counterparties rather than structural features of the business, meaning the loss or renegotiation of any one relationship — particularly Chick-fil-A's license or either top-five customer grouping — could weigh disproportionately on results relative to a more diversified customer base.
For the engine’s reasoning on MZTI’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 |
|---|---|---|---|---|---|
| MZTI● | The Marzetti Company | 2 | 1 | 1 | 4 |
| 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 |
| 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.