HIGHOutside partyCounterparty
86%
third-party workers' compensation insurers (insured program)
“10-K Item 1: 'Approximately 86% of the Company's workers' compensation exposure is covered through the insured program.'”
BBSI · Concentration risk · 10-K extracted
Barrett Business Services (BBSI) concentration risks
Updated
The most significant concentration Barrett Business Services discloses is third-party workers' compensation insurers (insured program) at 86%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Barrett Business Services’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Barrett Business Services discloses a single, high-share concentration tied to how it manages its core workers' compensation exposure: approximately 86% of the company's workers' compensation exposure is covered through the insured program with third-party insurers. As a professional employer organization, workers' compensation risk management is central to the business model, so this concentration is less about a discrete counterparty shock and more a structural feature of how the company has chosen to lay off risk — relying heavily on third-party insurance capacity rather than retaining exposure itself. With no other disclosed customer, geographic, or supplier concentration in the filing, this insurance-program dependency stands as the primary lens for evaluating the business: continuity of favorable insurer relationships, renewal terms, and pricing in that insured program is the variable most likely to move the verdict. Because the share is high and the company depends on that third-party capacity for the large majority of its workers' comp coverage, any deterioration in insurer relationships or available capacity would be a structural, not merely idiosyncratic, concern for the business model.
For the engine’s reasoning on BBSI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Staffing & Employment Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| MAN | ManpowerGroup | 3 | 0 | 0 | 3 |
| BBSI● | Barrett Business Services, Inc. | 1 | 0 | 0 | 1 |
| KFY | Korn Ferry | 0 | 1 | 0 | 1 |
| KELYA | Kelly Services, Inc. | 0 | 0 | 2 | 2 |
| KELYB | Kelly Services, Inc. | 0 | 0 | 2 | 2 |
| KFRC | Kforce, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.