MEDIUMOutside partySupplier
Mercury Marine motors
“10-K Item 1A: 'Within our marine businesses, we purchase a significant portion of our motors from Mercury Marine'”
WGO · Concentration risk · 10-K extracted
Winnebago Industries (WGO) concentration risks
Updated
The most significant concentration Winnebago Industries discloses is Mercury Marine motors, 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. How we score · Editorial policy
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. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
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: Winnebago Industries’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).
MEDIUMOutside partyCounterparty
one financial flooring institution dealer financing
“10-K Item 1A: 'one financial flooring institution held approximately 33% of our total outstanding financed dealer inventory dollars'”
MEDIUMBuilt-inGeographic
manufacturing in northern Iowa and northern Indiana
“10-K Item 1A: 'We currently manufacture most of our products in northern Iowa and northern Indiana.'”
LOWOutside partySupplier
12%
one supplier share of raw material purchases
“10-K Item 1A: 'In Fiscal 2026, one of our suppliers individually accounted for approximately 12% of our consolidated raw material purchases.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-25Winnebago's disclosed concentrations are mostly medium-share dependencies tied to specific counterparties and locations. Within its marine businesses, the company purchases a significant portion of its motors from Mercury Marine, a supplier dependency where a disruption or pricing change would affect that segment directly. A separate supplier accounted for approximately 12% of consolidated raw material purchases in Fiscal 2026, a low-share dependency that is smaller and easier to manage. On the financing side, one financial flooring institution held approximately 33% of total outstanding financed dealer inventory dollars. This is a medium-share counterparty exposure: dealer financing supports wholesale sales, so a change in that lender's appetite could affect dealer purchasing. Structurally, the company manufactures most of its products in northern Iowa and northern Indiana, a medium-share geographic exposure that leaves production exposed to regional disruptions such as weather, labor or utilities. Netting these out, the manufacturing footprint is a standing structural feature, while Mercury Marine and the flooring lender are the idiosyncratic counterparties most able to move results.
For the engine’s reasoning on WGO’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Recreational Vehicles
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| HOG | Harley-Davidson, Inc. | 3 | 0 | 0 | 3 |
| MBUU | Malibu Boats, Inc. | 2 | 2 | 1 | 5 |
| MCFT | MasterCraft Boat Holdings, Inc. | 2 | 1 | 1 | 4 |
| BC | Brunswick Corporation | 1 | 2 | 0 | 3 |
| LCII | LCI Industries | 1 | 1 | 2 | 4 |
| WGO● | Winnebago Industries, Inc. | 0 | 3 | 1 | 4 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.