Updated
The most significant concentration RPM International discloses is key customers (Ace Hardware, Amazon, Home Depot, Lowe's) at 65%, 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.
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Source: RPM International’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
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).
“10-K Item 1A: 'Ace Hardware, Amazon, Do It Best, Hardlines Distribution, The Home Depot, Inc., Lowe's ... sales to these customers accounted for approximately 65%'”
“10-K Item 1: 'Approximately 30% of our sales are generated in international markets through a combination of exports to and direct sales in foreign countries.'”
RPM International's disclosed concentration risk spans both customer and geographic dimensions, with the customer-side exposure the larger of the two. The company discloses that sales to a named group of key customers — Ace Hardware, Amazon, Do It Best, Hardlines Distribution, The Home Depot, Inc., and Lowe's — accounted for approximately 65% of sales, a high-share, dependency-type exposure concentrated in the home-improvement retail and distribution channel. This is a counterparty-specific risk: a change in purchasing terms, shelf space, or ordering patterns from any one of these large retail partners could move results independent of broader construction or consumer demand trends. Separately, the company discloses a medium-share, structural exposure to international markets, which generate approximately 30% of sales through a combination of exports and direct sales in foreign countries — a geographic mix exposure tied to global macro and currency conditions rather than a single counterparty. Netting these together, the retail-channel concentration is the more consequential exposure for RPM, since two-thirds of sales flowing through a short list of large customers gives those counterparties meaningful negotiating leverage, while the international sales mix is a more conventional structural feature of a global specialty chemicals and coatings business.
For the engine’s reasoning on RPM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| APD | Air Products and Chemicals, Inc | 2 | 0 | 0 | 2 |
| ALB | Albemarle Corporation | 1 | 1 | 0 | 2 |
| RPM● | RPM International Inc. | 1 | 1 | 0 | 2 |
| ASPN | Aspen Aerogels, Inc. | 1 | 0 | 0 | 1 |
| AVNT | Avient Corporation | 1 | 0 | 0 | 1 |
| ASH | Ashland 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.