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 · 8 disclosed concentrations
HIGH7
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 ... Net sales outside the U.S., subject to foreign currency translation, represented 4 percent of consolidated net sales for 2025.'”
HIGHBuilt-inGeographic
coffee production in New Orleans, Louisiana
“10-K Item 1A: 'substantially all of our coffee production takes place in New Orleans, Louisiana and is subject to risks associated with hurricane and other weather-related events'”
HIGHOutside partySupplier
Keurig
“10-K Item 1A: 'Keurig is our single-source supplier for K-Cup® pods, which are used in its proprietary Keurig® K-Cup® brewing system.'”
HIGHOutside partySupplier
JDE Peet's
“10-K Item 1A: 'JDE Peet's N.V. ... is our single-source supplier for liquid coffee for our Away From Home business'”
HIGHOutside partySupplier
Graham Packaging
“10-K Item 1A: 'Graham Packaging Company, L.P. ... is our single-source supplier for the packaging of our Folgers coffee products.'”
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 due to factors such as weather'”
MEDIUMOutside partyCustomer
33%
Walmart
“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 2026-09-06J.M. Smucker's disclosed concentration risk is unusually broad, spanning customers, geography, and supply chain, with most exposures sitting at a high share. The top 10 customers accounted for approximately 60% of consolidated net sales in 2025, a high-share dependency, within which Walmart alone represented 33% of net sales in both 2025 and 2024 (34% in 2023), a medium-share dependency. Geographically, the majority of sales are in the United States, with sales outside the U.S. representing just 4% of consolidated net sales, a high-share domestic concentration, compounded by the fact that substantially all coffee production takes place in New Orleans, Louisiana, another high-share exposure to a single production site and its weather-related risks. Supply-side dependencies are extensive and also high-share: Keurig is the single-source supplier for K-Cup pods, JDE Peet's is the single-source supplier for liquid coffee in the Away From Home business, Graham Packaging is the single-source supplier for Folgers packaging, and green coffee itself is sourced solely from foreign countries subject to high price volatility. Together, these exposures mean Smucker's coffee business in particular carries compounding risk across sourcing, packaging, and production location, layered on top of a concentrated domestic customer base.
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 | 7 | 1 | 0 | 8 |
| 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.