HIGHOutside partyCustomer
60%
top 10 customers
“10-K Item 1: 'During 2025, our top 10 customers, collectively, accounted for approximately 60 percent of consolidated net sales.'”
SJM · Concentration risk · 10-K extracted
The J.M. Smucker (SJM) concentration risks
Updated
The most significant concentration The J.M. Smucker discloses is top 10 customers at 60%, 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: The J.M. Smucker’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 7 disclosed concentrations
HIGH6
MEDIUM1
LOW0
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).
HIGHBuilt-inGeographic
United States
“10-K Item 1: 'the majority of our sales are in the United States (“U.S.”) ... Net sales outside the U.S., subject to foreign currency translation, represented 4 percent of consolidated net sales for 2025.'”
HIGHOutside partySupplier
Keurig
“10-K Item 1A: 'Keurig is our single-source supplier for K-Cup® pods, which are used in its proprietary Keurig® K-Cup® brewing system.'”
HIGHOutside partySupplier
JDE Peet's
“10-K Item 1A: 'JDE Peet’s N.V. (“JDE Peet’s”) is our single-source supplier for liquid coffee for our Away From Home business'”
HIGHOutside partySupplier
Graham Packaging
“10-K Item 1A: 'Graham Packaging Company, L.P. (“Graham Packaging”) is our single-source supplier for the packaging of our Folgers coffee products.'”
HIGHOutside partyCommodity
green coffee
“10-K Item 1: 'Green coffee, along with certain other raw materials, is sourced solely from foreign countries, and its supply and price is subject to high volatility'”
MEDIUMOutside partyCustomer
33%
Walmart
“10-K Item 1A: 'Sales to Walmart Inc. and subsidiaries amounted to 33 percent of net sales in 2025.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-05J.M. Smucker's concentration profile is dense on both the customer and supply sides. The top 10 customers together account for approximately 60% of consolidated net sales, and within that group Walmart alone represents about 33% — nearly half of the top-10 total from a single retailer. Geographically the business is overwhelmingly domestic, with net sales outside the U.S. at only about 4%, making the U.S. market effectively the whole business. The more idiosyncratic risks sit on the supply side: Keurig is the single-source supplier for K-Cup pods, JDE Peet's is the single-source supplier for liquid coffee in the Away From Home business, and Graham Packaging is the single-source supplier for Folgers packaging — three separate single points of failure across different product lines, layered on top of green coffee being sourced solely from foreign countries and subject to high price volatility. None of the supplier dependencies carry a disclosed percentage, but each is a single-source relationship with no alternative disclosed. Together, the Walmart-heavy customer concentration and the string of single-source suppliers are the exposures most capable of moving results, since each rests on one relationship with no disclosed backup, while the domestic revenue concentration is simply a structural feature of an already U.S.-centric business.
For the engine’s reasoning on SJM’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 |
|---|---|---|---|---|---|
| SJM● | The J.M. Smucker Company | 6 | 1 | 0 | 7 |
| 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 |
| 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.