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 · 5 disclosed concentrations
HIGH4
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
primary or single sources of supply
“10-K Item 1: 'we have elected to source certain plastic packaging materials for our Folgers® coffee products, as well as our Jif®peanut butter, and certain finished goods, such as K-Cup® pods, our Pup-Peroni®dog snacks, and liquid coffee, from primary or single sources of supply'”
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 Inc.
“10-K Item 1: 'Sales to Walmart Inc. and subsidiaries amounted to 33 percent of net sales in both 2025 and 2024 and 34 percent of net sales in 2023.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-09J.M. Smucker's concentration risk is heavily customer- and supply-side driven, with most exposures sized as high-share. The top 10 customers collectively accounted for approximately 60% of consolidated net sales in 2025, a high-share dependency and the largest single disclosed exposure. The business is also geographically concentrated: the majority of sales are in the United States, with net sales outside the U.S. representing just 4% of consolidated net sales in 2025, a high-share structural feature tying results to U.S. conditions. On supply, Smucker sources certain packaging materials for Folgers® coffee, Jif® peanut butter, and finished goods such as K-Cup® pods, Pup-Peroni® dog snacks, and liquid coffee from primary or single sources of supply, another high-share dependency spanning several core brands. Green coffee itself is sourced solely from foreign countries and its price is subject to volatility, a further high-share dependency. Within the top-10 group, Walmart Inc. and subsidiaries represented 33% of net sales in both 2025 and 2024, versus 34% in 2023 — a medium-share dependency, smaller than the broader customer concentration it sits within.
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 | 4 | 1 | 0 | 5 |
| 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.