PBH · CIK 1295947
What Prestige Consumer Healthcare Inc. told the SEC could break it.
2 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.
A limited set so far, we surface every cited disclosure we’ve extracted for PBH. More may follow as additional filings are processed.
In its own words
What could break it.
Supplier concentration
- Single primary U.S. distribution center, third-party managed — logistics chokepointmedium
Prestige's U.S. product distribution is managed by a third party through one primary distribution center, concentrating its downstream logistics in a single facility and a single outsourced operator. The company warns it could incur significantly higher costs and longer lead times if it had to replace that distribution center, the third-party distribution manager, or its manufacturing facilities. A disruption at the primary DC or a failure by the third-party manager could delay shipments to large retail customers (notably Walmart and Amazon) and trigger customer fees and penalties.
“We could also incur significantly higher costs and experience longer lead times should we be required to replace our distribution center, the third-party distribution manager or our manufacturing facilities.”
SEC filing →As of 2026 - Outsourced-manufacturing concentration — 18 of 95 contract manufacturers = ~60% of gross sales; realized $10.3M supplier-loan write-off; patent-owning single-source makersmedium
Prestige outsources most production and is exposed to contract-manufacturer concentration: at March 31, 2026 it had relationships with 95 third-party manufacturers, but just 18 with long-term contracts produced items accounting for ~60% of gross sales (up from 16 / ~58% in 2025). The risk is not theoretical — some suppliers experienced cash-flow shortages requiring Prestige to extend prepayments and short-term loans, and after transferring supply elsewhere one such supplier discontinued operations and did not repay its loan, forcing a ~$10.3 million write-off in fiscal 2026. Where third-party manufacturers own the patents protecting a product, Prestige is dependent on them as the sole source of supply. A disruption at a key manufacturer could interrupt supply of major brands.
“At March 31, 2026, we had relationships with 95 third-party manufacturers. Of those, we had long-term contracts with 18 manufacturers that produced items that accounted for approximately 60% of gross sales for 2026, compared to 16 manufacturers with long-term contracts that accounted for approximately 58% of gross sales in 2025.”
SEC filing →As of 2026
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
“During 2026, 2025 and 2024, Amazon accounted for approximately 15 %, 14 %, and 11 % respectively, of our gross revenues.”
Cited →“During 2024, Walmart and Amazon, which accounted for approximately 19.7% and 10.9% of our gross revenues, were our only customers that accounted for more than 10% of our gross revenues.”
Cited →“During 2026, 2025 and 2024, Walmart accounted for approximately 20%, 19% and 20%, respectively, of our gross revenues.”
Cited →
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