HIGHBuilt-inGeographic
non-U.S. operations
“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 non-U.S. operations, 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'”
LOWOutside partyCustomer
16%
Walmart
“10-K Item 1: 'Sales to Walmart Inc. and its affiliates represent approximately 16% of our total sales in 2025'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile spans three dimensions — geography, supply, and customers — with the international and supply exposures carrying the largest disclosed shares. Operations outside the U.S. generate more than 50% of annual net sales, a high-share geographic exposure that is structural: the global footprint reflects where consumer demand and the company's category leadership are most established. Currency translation, political risk, and local regulatory conditions across dozens of markets are the primary channels through which this exposure affects earnings, and they tend to move gradually rather than abruptly. On the supply side, almost all raw and packaging materials are purchased from third parties, some of whom are single-source suppliers — a high-share dependency where certain critical inputs have no immediately available substitute. Unlike the geographic exposure, a single-source supplier disruption is idiosyncratic and can affect production and margins with little warning. The customer base is moderately concentrated at a medium share: the top ten customers accounted for 43% of total net sales in 2025. Within that, Walmart Inc. and its affiliates represented approximately 16% of total sales — a low-share single-counterparty exposure that is nonetheless the largest named buyer. A shift in shelf-space allocation or promotional terms at Walmart would be visible but not company-defining at that revenue share. Together, the dominant variables to track are foreign-exchange trends across the international business and procurement continuity for sole-sourced materials; customer concentration is secondary by share.
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 |
| CLX | Clorox Company (The) | 2 | 3 | 0 | 5 |
| PG● | Procter & Gamble Company (The) | 2 | 1 | 1 | 4 |
| COTY | Coty Inc. | 1 | 1 | 0 | 2 |
| CL | Colgate-Palmolive Company | 0 | 2 | 1 | 3 |
| EL | Estee Lauder Companies, Inc. (T | 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.