HIGHBuilt-inGeographic
outside the U.S.
“10-K Item 1A: 'our operations outside the U.S. generate more than 50% of our annual net sales.'”
PG · Concentration risk · 10-K extracted
Procter & Gamble Company (The) (PG) concentration risks
Updated
The most significant concentration Procter & Gamble Company (The) discloses is outside the U.S., 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: Procter & Gamble Company (The)’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 partySupplier
single-source suppliers
“10-K Item 1: 'Almost all of the raw and packaging materials used by the Company are purchased from third parties, some of whom are single-source suppliers.'”
MEDIUMOutside partyCustomer
43%
top ten customers
“10-K Item 1: 'Our top ten customers accounted for 43% of our total net sales in 2025, 42% in 2024 and 40% in 2023.'”
LOWOutside partyCustomer
16%
Walmart
“10-K Item 1: 'Sales to Walmart Inc. and its affiliates represent approximately 16% of our total sales in 2025 and 2024 and 15% in 2023.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-23Procter & Gamble's concentration profile spans four exposures across geography, supply chain, and customer base, each with a different disclosed band. Geographically, the company is a high-share, structural exposure to markets outside the U.S., which generate more than 50% of annual net sales — tied to global consumer demand and currency conditions rather than a single country. On the supply side, P&G also carries a high-share, dependency-type exposure: almost all raw and packaging materials are purchased from third parties, some of whom are single-source suppliers, so a disruption at any one supplier could affect production. Customer concentration is more contained: the top ten customers accounted for 43% of total net sales in 2025, up from 42% in 2024 and 40% in 2023 — a medium-share, dependency-type exposure that has been gradually rising. Within that group, Walmart alone represented approximately 16% of total sales in 2025 and 2024, versus 15% in 2023, a low-share exposure but the largest single counterparty disclosed. The geographic and supplier exposures are structural features of P&G's global scale, while the rising, Walmart-anchored customer concentration is the more idiosyncratic line to watch.
For the engine’s reasoning on PG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Household & Personal Products
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CHD | Church & Dwight Company, Inc. | 3 | 2 | 1 | 6 |
| PG● | Procter & Gamble Company (The) | 2 | 1 | 1 | 4 |
| COTY | Coty Inc. | 2 | 0 | 1 | 3 |
| EL | Estee Lauder Companies, Inc. (T | 1 | 2 | 0 | 3 |
| CL | Colgate-Palmolive Company | 0 | 2 | 1 | 3 |
| CLX | Clorox Company (The) | 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.