MEDIUMOutside partyCustomer
31%
Walmart (North America Retail segment)
“10-K Item 1: 'Walmart Inc. and its affiliates (Walmart) accounted for 22 percent of our consolidated net sales and 31 percent of net sales of our North America Retail segment.'”
GIS · Concentration risk · 10-K extracted
General Mills (GIS) concentration risks
Updated
The most significant concentration General Mills discloses is Walmart (North America Retail segment) at 31%, 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.
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Source: General Mills’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH0
MEDIUM1
LOW1
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).
LOWOutside partyCustomer
22%
Walmart
“10-K Item 1: 'Walmart Inc. and its affiliates (Walmart) accounted for 22 percent of our consolidated net sales and 31 percent of net sales of our North America Retail segment.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-26General Mills' primary disclosed concentration risk is a single customer relationship viewed through two different lenses. Walmart Inc. and its affiliates accounted for 22% of General Mills' consolidated net sales — a low-share dependency at the total-company level — but represented a larger 31% of net sales within the North America Retail segment specifically, a medium-share dependency when measured against that narrower base. This is an important distinction: the same customer relationship carries a smaller share at the consolidated level than it does within the segment most exposed to it. For investors focused on total-company results, the 22% consolidated figure suggests Walmart is one of several important retail partners rather than a dominant one; but for those assessing the North America Retail segment on its own, the 31% share indicates a more concentrated reliance on a single retailer within that business line. No other customer, geographic, or supplier concentrations are disclosed in the source claims, so this Walmart relationship — sized differently depending on the denominator — is the sole identified concentration risk for General Mills.
For the engine’s reasoning on GIS’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 |
|---|---|---|---|---|---|
| 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 |
| GIS● | General Mills, Inc. | 0 | 1 | 1 | 2 |
| 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.