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McCormick10-K: Customer concentration

24% of 2025 sales from two customers, Wal-Mart and PepsiCo

What happened

High revenue concentration with Wal-Mart (12%) and PepsiCo (12%) creates significant business risk and dependency. The Flavor Solutions segment is even more concentrated, with its top three customers accounting for 49% of its global sales, making customer relationship management and supply chain performance critical.

Source

SEC EDGARJan 22, 2026

Annual report (Form 10-K)

McCormick 10-K

Filing excerpt

Sales to one of our Consumer segment customers, Wal-Mart Stores, Inc., accounted for consolidated sales of approximately 12% in 2025, 2024, and 2023.

sec.gov/Archives/edgar/data/63754/000006375426000037/mkc-20251130.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Customer concentration

What this signalsFilings often name leadership changes, deals and spending plans.

Filed
Jan 22, 2026

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The full record

From the Signal API record

Numbers

Percent
24% (Consolidated sales from Wal-Mart and PepsiCo in 2025)

Details

CIK
63754
Accession number
0000063754-26-000037
Timeframe
Current year
Filing year
2026
Why it matters
Diversification strategy
Signal category
Market

Extraction

Confidence
High
Relevance
90%
Sentiment
Negative
Detected
Feb 3, 2026
signal_type
sec-10k
signal_subtype
customerConcentration

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/139736b8-0f4b-48be-890b-716a24f3a56a returns this record as JSON. POST /v1/companies/enrich returns every signal for mccormickcorporation.com.

{
  "signal_id": "139736b8-0f4b-48be-890b-716a24f3a56a",
  "signal_type": "sec-10k",
  "signal_subtype": "customerConcentration",
  "detected_at": "2026-02-03T08:24:23.916+00:00",
  "company": {
    "name": "McCormick",
    "domain": "mccormickcorporation.com"
  },
  "data": {
    "detail": "High revenue concentration with Wal-Mart (12%) and PepsiCo (12%) creates significant business risk and dependency. The Flavor Solutions segment is even more concentrated, with its top three customers accounting for 49% of its global sales, making customer relationship management and supply chain performance critical.",
    "metrics": {
      "pct": 0.24,
      "timeframe": "current_year",
      "pct_context": "Consolidated sales from Wal-Mart and PepsiCo in 2025"
    },
    "summary": "24% of 2025 sales from two customers, Wal-Mart and PepsiCo",
    "excerpts": "Sales to one of our Consumer segment customers, Wal-Mart Stores, Inc., accounted for consolidated sales of approximately 12% in 2025, 2024, and 2023.",
    "relevance": 0.9,
    "sentiment": "negative",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/63754/000006375426000037/mkc-20251130.htm",
    "filing_date": "2026-01-22",
    "filing_year": 2026,
    "sales_relevance": "Diversification strategy",
    "signal_category": "market"
  }
}

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