MEDIUMBuilt-inGeographic
43%
revenue outside the U.S.
“10-K Item 1: 'approximately 43% of our revenue is generated by customers outside the U.S.'”
XRX · Concentration risk · 10-K extracted
Xerox Holdings (XRX) concentration risks
Updated
The most significant concentration Xerox Holdings discloses is revenue outside the U.S. at 43%, classified MEDIUM 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.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Xerox Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM3
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).
MEDIUMOutside partySupplier
FUJIFILM Business Innovation Corp.
“10-K Item 1A: 'We have outsourced a material portion of our manufacturing operations to third parties, such as FUJIFILM Business Innovation Corp.'”
MEDIUMOutside partyCustomer
government contracts
“10-K Item 1A: 'A significant portion of our revenue is derived from contracts with U.S. federal, state and local governments and their agencies, as well as international governments and their agencies.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-23Xerox's disclosed concentration risks touch three different dimensions of the business — geography, supply chain, and customer base — and all three sit in the same disclosed band. Approximately 43% of revenue is generated by customers outside the U.S., a medium-share structural exposure reflecting the company's global footprint. On the supply side, Xerox has outsourced a material portion of its manufacturing operations to third parties, including FUJIFILM Business Innovation Corp., a medium-share dependency on a named external manufacturing partner. On the customer side, a significant portion of revenue is derived from contracts with U.S. federal, state, and local governments and their agencies, as well as international governments and their agencies, a medium-share dependency on public-sector counterparties. Each of these exposures carries the same medium-share designation, but together they span geographic, supply-chain, and customer risk simultaneously, meaning Xerox's results are sensitive to currency and international demand conditions, to its outsourced manufacturing relationship with FUJIFILM Business Innovation Corp., and to government budget and procurement cycles all at once — a moderate, broad-based concentration profile rather than one dominant point of failure.
For the engine’s reasoning on XRX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Business Equipment & Supplies
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACCO | Acco Brands Corporation | 2 | 1 | 0 | 3 |
| ACTG | Acacia Research Corporation | 2 | 0 | 0 | 2 |
| EBF | Ennis, Inc. | 1 | 0 | 0 | 1 |
| XRX● | Xerox Holdings Corporation | 0 | 3 | 0 | 3 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.