Risk Sleuth
HLMN · 10-K filed 17 Feb 2026 · year to 27 Dec 2025

Hillman Solutions

26 named things its latest annual report says its results depend on, each in the company's own words. 18 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Lowe's

earns from · approximately $324.4 million or 20.9% of our total revenuesnamed as a risk
For the year ended December 27, 2025, Home Depot was the single largest customer, representing approximately $349.9 million or 22.5% of our total revenues and Lowe's was the second largest customer at approximately $324.4 million or 20.9% of our total revenues.Business (Item 1)

Also named by AOS, DE, MAS, SMG, SWK, SYF, TREX, WHR

Home Depot

earns from · approximately $349.9 million or 22.5% of our total revenuesnamed as a risk
For the year ended December 27, 2025, Home Depot was the single largest customer, representing approximately $349.9 million or 22.5% of our total revenues and Lowe's was the second largest customer at approximately $324.4 million or 20.9% of our total revenues.Business (Item 1)

Also named by DE, MAS, O, SMG, SWK, TREX

Ace Hardware

concentrated in · approximately 17.1% of the Company's accounts receivablenamed as a risk
As of December 27, 2025 approximately 17.1% of the Company's accounts receivable was derived through the Ace Hardware purchasing cooperative.Business (Item 1)

Also named by BRK/B

True Value

earns from · $8.6 millionnamed as a risk
This occurred on October 14, 2024, when True Value Company, LLC and certain of its affiliates (collectively, "True Value"), filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code that impaired the collectability of our accounts receivable and resulted in us recording a charge of $8.6 million in 2024.Risk factors (Item 1A)

Suppliers

Largest vendor

depends on · approximately 7.6% of the Company's annual purchases
We currently manage a worldwide supply chain comprised of a large number of vendors, the largest of which accounted for approximately 7.6% of the Company's annual purchases and the top five of which accounted for approximately 17.2% of our annual purchases.Business (Item 1)

Also named by ASO

Competitors

Illinois Tool Works

competes with
Our primary competitors in the national accounts marketplace for fasteners are Primesource Building Products, Inc., Midwest Fastener Corporation, Illinois Tool Works Inc., Spectrum Brands, and competition from direct import by our customers.Business (Item 1)

Also named by ESAB

Midwest Fastener Corporation

competes with
The principal competitor for our franchise and independent hardware store customers is Midwest Fastener Corporation.Business (Item 1)

Primesource Building Products

competes with
Our primary competitors in the national accounts marketplace for fasteners are Primesource Building Products, Inc., Midwest Fastener Corporation, Illinois Tool Works Inc., Spectrum Brands, and competition from direct import by our customers.Business (Item 1)

Techtronic Industries

competes with
Our national competitors for gloves and personal protective equipment include Techtronic Industries, West Chester Protective Gear, PIP, Iron Clad, and MidWest Quality Gloves, Inc.Business (Item 1)

Places

China

depends on · approximately 33% of our productsnamed as a risk
We estimate we source approximately 33% of our products from China, 33% from suppliers based in North America, and 33% from all other countries.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Canada

earns from · approximately $138.1 million
Our Canada segment generated approximately $138.1 million, $147.9 million and $156.5 million of revenues in the years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively.Business (Item 1)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Taiwan

depends onnamed as a risk
We import a majority of our products and rely on foreign sources, primarily China and Taiwan, to meet our supply demands at prices that support our current operating margins.Risk factors (Item 1A)

Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more

Boulder, Colorado

operates in
We manufacture and support the MinuteKey kiosk out of our Boulder, Colorado and Tempe, Arizona facilities.Business (Item 1)

Tempe, Arizona

operates in
We manufacture and support the MinuteKey kiosk out of our Boulder, Colorado and Tempe, Arizona facilities.Business (Item 1)

Hazards

China-Taiwan conflict

named as a risk
Conflict between China and Taiwan could disrupt our supply chain, including limiting access to key ports, disrupting the operations of our suppliers, or resulting in potential international sanctions, all of which could adversely affect our results of operations or increase our costs.Risk factors (Item 1A)

Also named by CW, FND, GGG, ZBH

Commodities and inputs

Canadian dollar

exposed to its price · $134.7 million net asset valuenamed as a risk
We are exposed to foreign exchange rate changes of the Canadian and Mexican currencies as it impacts the $134.7 million net asset value of our Canadian and Mexican subsidiaries as of December 27, 2025.Market risk (Item 7A)

Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more

Secured Overnight Financing Rate (SOFR)

exposed to its price · approximately $3.1 millionnamed as a risk
Based on our exposure to variable rate borrowings at December 27, 2025, after consideration of our SOFR floor rates and interest rate swap agreements, a one percent (1%) change in the weighted average interest rate for a period of one year would change the annual interest expense by approximately $3.1 million.Market risk (Item 7A)

Also named by ABR, ADBE, AGM, AMG, ARCC, BCSF, BRO, CAT and 21 more

Chinese Yuan (CNY)

exposed to its price · 4.0%named as a risk
The U.S. dollar decreased in value relative to the CNY by 4.0% in 2025, increased by 2.8% in 2024 and increased by 2.9% in 2023.Risk factors (Item 1A)

Also named by ABT, ASO, BEN, CHRW, CROX, CYRX, DORM, ESI and 13 more

Steel

exposed to its pricenamed as a risk
Many of our products are manufactured out of metals, including but not limited to steel, aluminum, zinc, and copper.Risk factors (Item 1A)

Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more

Aluminum

exposed to its pricenamed as a risk
Many of our products are manufactured out of metals, including but not limited to steel, aluminum, zinc, and copper.Risk factors (Item 1A)

Also named by AAON, ACHR, ALSN, AYI, BA, BALL, BF/B, BWA and 59 more

Copper

exposed to its pricenamed as a risk
Many of our products are manufactured out of metals, including but not limited to steel, aluminum, zinc, and copper.Risk factors (Item 1A)

Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more

Crude oil

exposed to its pricenamed as a risk
Additionally, we use other commodity-based materials in the manufacture of Letters, Numbers, and Signs (“LNS”) that are resin-based and subject to fluctuations in the price of oil.Risk factors (Item 1A)

Also named by AESI, ALK, APA, ARLP, BDX, CFR, CL, CLMT and 48 more

Zinc

exposed to its pricenamed as a risk
Many of our products are manufactured out of metals, including but not limited to steel, aluminum, zinc, and copper.Risk factors (Item 1A)

Also named by CDE, FBIN, HL, JBI, LFUS, LNN, MAS, MLI and 6 more

Laws and programs

ABL Revolver

depends on · $279.1 million of available borrowingsnamed as a risk
As of December 27, 2025, the ABL Revolver had an outstanding balance of $36.0 million and had outstanding letters of credit of $3.3 million, with $279.1 million of available borrowings as a source of liquidity based on the customary asset-backed loan borrowing base and availability provisions.Risk factors (Item 1A)

U.S. tariffs on steel, aluminum and imported goods

subject tonamed as a risk
The U.S. tariffs on steel, aluminum, and other imported goods have materially increased the costs of many of our foreign sourced products, and any escalation in the tariffs will increase the impact, including without limitation recent tariffs against goods imported from China, Mexico, and Canada enacted since February 1, 2025 by the Trump Administration and any retaliatory tariffs issued in response thereto.Risk factors (Item 1A)

Technology

ERP system implementation

depends onnamed as a risk
Complications with the design or implementation of our new enterprise resource planning ("ERP") system could adversely impact our business and operations.Risk factors (Item 1A)

Also named by FND, MKC, UNFI