LFUS · CIK 889331
What Littelfuse, Inc. told the SEC could break it.
Littelfuse's disclosures center on its international footprint and the trade and commodity pressures around it. About 65% of fiscal 2025 net sales came from outside the U.S., including roughly 24% to China, tying results to volatile Chinese economic conditions and an evolving regulatory regime. That exposure is sharpened by extensive recent U.S. tariffs on goods from China, Mexico, and Canada — plus product-specific levies and reciprocal measures — that raise its supply-chain and U.S. cost of goods. Its manufacturing also depends on various metals (copper, zinc, tin, gold, silver, ruthenium), with added conflict-minerals sourcing constraints from a limited pool of conflict-free suppliers.
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.
Geographic concentration
- China sales exposure (~24% of net sales)medium
~65% of FY2025 net sales were outside the U.S., including ~24% to China, exposing the company to volatile Chinese economic conditions and an evolving regulatory regime.
“Sales to customers outside the U.S. constituted approximately 65% of the Company's net sales in fiscal 2025, including approximately 24% to China.”
Regulatory & policy
- U.S. tariffs on China/Mexico/Canada + reciprocal leviesmedium
Extensive recent U.S. tariffs on goods from China, Mexico, Canada and product-specific foreign goods raise supply-chain material costs and have triggered reciprocal levies, pressuring U.S. cost of goods sold.
“Recently, the U.S. government has imposed extensive tariffs on goods imported from several countries, including, without limitation, China, Mexico and Canada, as well as certain broad, product-specific tariffs on foreign goods and products.”
Commodity & input dependence
- metals: copper, zinc, tin, gold, silver, rutheniumlow
Manufacturing depends on various metals — copper, zinc, tin, gold, silver and ruthenium — with added conflict-minerals sourcing constraints (limited 'conflict-free' suppliers).
“The Company uses various metals in the manufacturing of its products, including copper, zinc, tin, gold, silver, and ruthenium.”
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
“Sales to Arrow Electronics, Inc., which were included in the Electronics, Transportation, and Industrial segments, were 9.5 %, 9.4 %, and 11.2 % of consolidated net sales in 2025, 2024, and 2023 respectively.”
Cited →
Its suppliers
Automated Technology (Phil), Inc. (ATEC)
“The Company owns approximately 24 % of the outstanding common shares of Automated Technology (Phil), Inc. (“ATEC”), a supplier located in the Philippines that provides assembly and test services.”
Cited →
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