MOG-A · CIK 0000067887
What Moog Inc. told the SEC could break it.
Moog's disclosures track the position of an aerospace-and-defense components supplier. On demand, it carries customer concentration — Boeing was about 10% of fiscal 2025 sales, with further concentration in U.S. Government prime and sub-contracts across its military aircraft and space-and-defense work. Its supply side has two pressure points: certain components and sub-assemblies come from a single or limited group of suppliers, and recent U.S. tariffs on steel, aluminum, and other raw materials (plus potential retaliatory measures and U.S.-China trade uncertainty) could raise its costs and limit material availability. As a defense supplier, its ability to sell abroad also hinges on export licenses and ITAR/sanctions compliance, an area where it has filed voluntary disclosures for certain violations.
4 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.
Regulatory & policy
- defense export controls / ITAR / sanctionsmedium
As a defense supplier, Moog's ability to sell outside the U.S. depends on export licenses and compliance with export-control, sanctions and technology-transfer rules; it has filed voluntary disclosures for certain violations.
“the U.S. government has established, and from time to time revises, sanctions that restrict or prohibit U.S. companies and their subsidiaries from doing business with certain foreign countries, entities and individuals.”
- US steel/aluminum tariffs + US-China trade uncertaintymedium
Recently implemented U.S. tariffs on steel, aluminum and other raw materials (plus potential further/retaliatory tariffs and US-China trade uncertainty) could raise costs, reduce raw-material availability, and lift aircraft prices that dampen customer orders.
“The tariffs recently implemented in the U.S. on steel, aluminum and other raw materials, potential of further tariffs and potential retaliatory actions by other countries could increase costs and reduce availability of raw materials.”
Customer concentration
- Boeing ~10% of sales; U.S. Government prime/sub contractsmedium
Boeing was ~10% of Moog's sales in FY2025 (10%/12%/11% over three years); additional concentration comes from U.S. Government prime and sub-contracts in its Military Aircraft and Space & Defense segments.
“Sales to Boeing were $ 396,784 , $ 417,275 and $ 349,961 , or 10 %, 12 % and 11 % of sales, in 2025, 2024 and 2023, respectively.”
SEC filing →As of 2025
Sole-source dependency
- certain components/sub-assemblies from single/limited suppliersmedium
Although Moog generally buys from numerous suppliers, certain components and sub-assemblies are obtained from a single supplier or limited group of suppliers, creating concentrated dependency for those parts.
“some business conditions cause us to obtain certain components and sub-assemblies from a single supplier or a limited group of suppliers.”
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
“Sales to Boeing were $ 396,784 , $ 417,275 and $ 349,961 , or 10 %, 12 % and 11 % of sales, in 2025, 2024 and 2023, respectively.”
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