Updated
The most significant concentration RPM International discloses is key customers (Consumer segment) 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.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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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: 'Within our Consumer segment, sales to these customers accounted for approximately 65%, 67% and 67% of net sales for the fiscal years ended May 31, 2025, 2024 and 2023, respectively.'”
“10-K Item 1A: 'Our foreign manufacturing operations accounted for approximately 28.9% of our net sales for the fiscal year ended May 31, 2025'”
“10-K Item 1A: 'We depend on a few key customers ... sales to these customers across all of our reportable segments accounted for approximately 22%, 24% and 25% of our consolidated net sales'”
“10-K Item 1A: 'Sales to The Home Depot, Inc. represented less than 10% of our consolidated net sales for fiscal 2025, 2024, and 2023'”
RPM International's concentration risk is layered by segment and customer tier. Within the Consumer segment specifically, sales to key customers accounted for approximately 65% of net sales for fiscal 2025 (67% in fiscal 2024 and 67% in fiscal 2023) — a high-share dependency that is significant within that segment, though the figure describes Consumer alone rather than the whole company. On a consolidated basis, foreign manufacturing operations accounted for approximately 28.9% of net sales for fiscal 2025, a medium-share structural exposure to international operating conditions. Across all reportable segments combined, sales to key customers accounted for approximately 22% of consolidated net sales in fiscal 2025 (24% in fiscal 2024 and 25% in fiscal 2023) — a low-share dependency, trending down over the three years shown. Within that group, sales to The Home Depot, Inc. represented less than 10% of consolidated net sales for fiscal 2025, 2024, and 2023, a low-share dependency on a single named retailer. The pattern: customer concentration that looks high-share within the Consumer segment alone dilutes to a low-share, declining exposure across RPM's full diversified portfolio — the company's broader segment mix appears to be the structural buffer against any single customer relationship.
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 |
| RPM● | RPM International Inc. | 1 | 1 | 2 | 4 |
| ALB | Albemarle Corporation | 1 | 1 | 0 | 2 |
| AVNT | Avient Corporation | 1 | 0 | 0 | 1 |
| AXTA | Axalta Coating Systems Ltd. | 0 | 1 | 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.