MEDIUMOutside partyCustomer
50%
ten largest customers
“10-K Item 1: 'In fiscal 2025, our ten largest customers accounted for approximately 50% of our net sales.'”
LW · Concentration risk · 10-K extracted
Lamb Weston Holdings (LW) concentration risks
Updated
The most significant concentration Lamb Weston Holdings discloses is ten largest customers at 50%, 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: Lamb Weston Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH0
MEDIUM3
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).
MEDIUMBuilt-inGeographic
35%
net sales outside the U.S.
“10-K Item 1A: 'net sales outside the U.S., ... accounted for approximately 35%, 34%, and 23% of our net sales, respectively.'”
MEDIUMOutside partySupplier
potato growers in Washington, Idaho, and Oregon
“10-K Item 1: 'In the U.S., most of the potato crop used in our products is grown in Washington, Idaho, and Oregon.'”
LOWOutside partyCustomer
15%
McDonald's Corporation
“10-K Item 1: 'In fiscal 2025, 2024, and 2023, our largest customer, McDonald's Corporation, accounted for approximately 15%, 14%, and 13%, respectively, of our consolidated net sales.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06Lamb Weston's disclosed concentration risks span customers, geography, and agricultural supply, with most sitting at a medium share of the business. The company's ten largest customers accounted for approximately 50% of net sales in fiscal 2025, a customer-dependency exposure that reflects a foodservice and retail customer base weighted toward a relatively small number of large accounts. Geographically, net sales outside the U.S. accounted for approximately 35% of net sales in fiscal 2025, up from 34% in fiscal 2024 and 23% in fiscal 2023 — a structural, and rising, international exposure. On the supply side, most of the U.S. potato crop used in Lamb Weston's products is grown in Washington, Idaho, and Oregon, a medium-share dependency that ties input costs and availability to weather and growing conditions in a concentrated agricultural region. Within the ten-largest-customer group, McDonald's Corporation stands out individually: it accounted for approximately 15% of consolidated net sales in fiscal 2025, up from 14% in fiscal 2024 and 13% in fiscal 2023 — a low-share but steadily growing single-customer dependency. Together, these exposures show a business increasingly reliant on international growth and a concentrated customer and grower base, with McDonald's the most notable single relationship to watch given its rising share.
For the engine’s reasoning on LW’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 |
| LW● | Lamb Weston Holdings, Inc. | 0 | 3 | 1 | 4 |
| 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.