HIGHOutside partyCustomer
60%
top 10 customers
“10-K Item 1A: '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 · 2 disclosed concentrations
HIGH2
MEDIUM0
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).
HIGHOutside partySupplier
Keurig single-source supplier for K-Cup pods
“10-K Item 1A: 'Keurig is our single-source supplier for K-Cup® pods'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-11Smucker carries two concentrations that are both high-share and both dependency-type, one on each side of the business. On the demand side, the top 10 customers collectively accounted for approximately 60 percent of consolidated net sales in 2025. A buyer group of that size gives retailers considerable leverage over pricing, promotion and shelf placement, and the loss or contraction of any one large account would be felt across the income statement. On the supply side, Keurig is the single-source supplier for K-Cup pods. The source gives no percentage, but single-source status means a high-share reliance: the company has no disclosed alternate for that product line, so a supply disruption or a change in commercial terms would be difficult to offset quickly. Together the exposures are complementary rather than redundant. The customer concentration is a structural feature of selling packaged food through large retailers, while the Keurig reliance is more idiosyncratic and contract-specific. The customer concentration is the larger and better quantified of the two, and it is the more likely to move the verdict over time.
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 | 2 | 0 | 0 | 2 |
| 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.