MEDIUMOutside partyCustomer
29%
Chick-fil-A
“10-K Item 1: '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'”
MZTI · Concentration risk · 10-K extracted
The Marzetti (MZTI) concentration risks
Updated
The most significant concentration The Marzetti discloses is Chick-fil-A 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: The Marzetti’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM2
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).
MEDIUMOutside partyCustomer
top five Retail customers
“10-K Item 1: 'Our top five Retail customers accounted for 62%, 59% and 59%'”
LOWOutside partyCustomer
19%
Walmart
“10-K Item 1: 'Net sales attributed to Walmart Inc. ... totaled 19%, 18% and 18% of consolidated net sales for 2025'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-04Marzetti's disclosed exposures are all customer-side dependencies. Chick-fil-A, including Retail sales from the exclusive license agreement and Foodservice sales, totaled 29% of consolidated net sales for 2025 (the filing also cites 28% and 26% for other periods). That is a medium-share exposure. In Retail, the top five customers accounted for 62%, 59% and 59%, also a medium-share exposure. Walmart Inc. accounted for 19% of consolidated net sales, 18% in the other periods cited, a small-share exposure on its own. These overlap in ways the filing does not fully separate: Walmart sits inside the Retail group, while Chick-fil-A spans both channels. The pattern is that a few counterparties have meaningful bargaining power over pricing and shelf placement, and the Chick-fil-A share has risen steadily. Netting this out, customer concentration is the principal risk and is idiosyncratic rather than market-wide. A change in terms or volume at Chick-fil-A would likely matter most to the verdict. All of this is clearly disclosed in the most recent 10-K.
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 |
|---|---|---|---|---|---|
| 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 |
| MZTI● | The Marzetti Company | 0 | 2 | 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.