KE · CIK 0001606757
What Kimball Electronics, Inc. told the SEC could break it.
Kimball Electronics' disclosures pair customer concentration with an offshore manufacturing footprint exposed to trade policy. Two automotive customers — Nexteer (19%) and ZF (11%) — together made up about 30% of FY2025 net sales, concentrating its revenue. Its operations are heavily international, with eight manufacturing facilities across the U.S., China, Mexico, Poland, Romania and Thailand and roughly 4,700 of its 5,700 employees abroad. And its supply chain leans on raw materials and components made or assembled in various countries including China, leaving it exposed to tariffs and trade regulations.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- Nexteer (19%) and ZF (11%) = ~30% of net salesmedium
Two automotive customers, Nexteer Automotive (19%) and ZF (11%), together made up ~30% of FY2025 net sales.
“Sales to Nexteer Automotive and ZF accounted for the following portions of our net sales: Year Ended June 30 2025 2024 Nexteer Automotive 19% 16% ZF 11% 13%”
SEC filing →As of 2025
Geographic concentration
- manufacturing footprint incl. China; ~4,700 of 5,700 employees abroadmedium
Eight manufacturing facilities span the U.S., China, Mexico, Poland, Romania and Thailand, with ~4,700 of 5,700 employees in foreign countries — material China/offshore operational exposure.
“we have eight manufacturing facilities with two located in Indiana, two in Mexico, and one located in each of China, Poland, Romania, and Thailand.”
Regulatory & policy
- tariffs on China-sourced raw materials & componentsmedium
The supply chain depends heavily on raw materials and components made/assembled in various countries including China, exposing it to tariffs and trade regulations.
“Our supply chain is heavily reliant on raw materials and components manufactured and assembled in various countries, including China. These supply chain operations are subject to tariff and other international trade regulations in each of the countries where we operate.”
SEC filing →As of 2025
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
Nexteer Automotive Group Limited
“Sales to Nexteer Automotive and ZF accounted for the following portions of our net sales: Year Ended June 30 2025 2024 Nexteer Automotive 19% 16% ZF 11% 13%”
Cited →ZF Friedrichshafen AG
“Sales to Nexteer Automotive and ZF accounted for the following portions of our net sales: Year Ended June 30 2025 2024 Nexteer Automotive 19% 16% ZF 11% 13%”
Cited →
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